Tether helps Binance swap 3 billion USDT to Ethereum from Tron
Tether announced that it's assisting crypto exchange Binance with a “chain swap,” which involves converting 3 billion USDT to the Ethereum network from the Tron network. Tether will be performing a chain swap from the Tron network to the Ethereum network.
USDT is issued as a token issued by Tether on the Ethereum, Tron and other blockchain networks and used to facilitate trading operations on cryptocurrency exchanges such as Binance. Tether CTO Paolo Ardoino said the transaction is part of Binance efforts to rebalance USDT reserves from its cold wallets on Tron to Ethereum. Here, Binance will send 3 billion USDT.
Source
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