Tether USDt

Cryptocurrency exchange Binance has decided to transfer a significant amount of Tether (USDT) stablecoins from the Tron (TRC20) network to the Ethereum (ERC20) blockchain. The official Twitter page of Tether has invited its community&#39;s attention towards the major movement of the stablecoins:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2f2619ffeae244608cb3803f3b098647.png" />To maintain liquidity, a move has been made in response to regulatory pressure from the US Securities and Exchange Commission (SEC). Binance has proactively transferred 750 million USDT stablecoins from the Tron network to the Ethereum blockchain in response to these developments. Binance <a href="https://twitter.com/binance/status/1668218926721818624" rel="noopener noreferrer nofollow">announced</a> the transfer via its official Twitter account, stating that it would be conducted in collaboration with Tether, the issuer of USDT. This move aims to safeguard liquidity and ensure the stability of trading operations amidst the ongoing regulatory challenges faced by the exchange.Transferring stablecoins between networks is seen as a strategic step to mitigate the impact of the SEC lawsuit against Binance. According to <a href="https://www.binance.com/en/feed/post/633018" rel="noopener noreferrer nofollow">analysts</a> at Kaiko, the liquidity of Bitcoin (BTC) on Binance.US experienced a sharp decline following the regulatory action. While BTC liquidity had been decreasing over the past few months, the claims made by the SEC played a decisive role in its substantial collapse.Read full article at <a href="https://cryptotale.org/binance-shifts-750m-usdt-from-tron-network-in-response-to-regulatory-pressures/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Binance Shifts 750M USDT from Tron Network in Response to Regulatory Pressures

CryptoTale

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