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    <p>Binance recently moved approximately $3.9 billion in tether (USDT) from its ‘Binance-Cold 2’ wallet on Tron to its ‘Binance 3’ hot wallet. $300 million of these were then sent to ‘Binance-Hot 7,’ leaving approximately $3.6 billion in ‘Binance 3.’&nbsp;</p>
    <p>ChainArgos, a blockchain analytics firm, noted that this is one of the largest tether transactions on Tron to ever occur.</p>
    <p><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s “proof-of-reserves” for November 1 claimed that <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> held $18.1 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> in USDT and that it owed its customers $15.3 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>. This is a significant increase from the end of last year when <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> claimed to hold $13.9 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> in USDT against the $13.5 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> it owed customers.</p>
    <p>Coincidentally, <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>-owned CoinMarketCap shows that the market cap for USDT has increased by $3.6 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> over the last month, nearly the same amount as in ‘<a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> 3.’&nbsp;</p>
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       Binance’s stablecoin BUSD hasn’t always been 1:1 backed, report
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Binance’s stablecoin BUSD hasn’t always been 1:1 backed, report” — Protos" src="https://protos.com/binances-stablecoin-busd-hasnt-always-been-11-backed-report/embed/#?secret=Cth86djEBX#?secret=vOLf6CUv8A" data-secret="vOLf6CUv8A" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
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    <p><em>Read more: Fake Skype app stealing USDT previously impersonated <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a></em></p>
    <p>Binance’s stablecoin activities have drawn greater scrutiny after its failure to appropriately manage Binance-Peg BUSD. Binance additionally currently faces lawsuits from the Commodity Futures Trading Commission and Securities and Exchange Commission, and prosecutors are reportedly weighing criminal charges against Binance.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-has-3-9-billion-in-usdt-on-the-move-tbt70262.html">https://thebittimes.com/binance-has-3-9-billion-in-usdt-on-the-move-tbt70262.html</a></p>

Binance has $3.9 billion in USDT on the move

TheBitTimes

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