Binance to Swap 1.25 Billion USDT-TRX for USDT-ETH

After 9:30 am UTC today, Binance will directly exchange 1.25 billion USDT-TRX for USDT-ETH with the Tether team to assure stablecoin liquidity. Thus, users will observe substantial USDT transfers today from the Binance wallet.

Binance to Swap 1.25 Billion USDT-TRX for USDT-ETH

To address concerns about stablecoin liquidity, Binance has stated that it will immediately swap 1.25 billion USDT-TRX for USDT-ETH. Traders are concerned about the potential hazards associated with this cryptocurrency as a result of the move, which follows yesterday’s modest de-pegging of USDT.

CoinDesk Accesses Tether Customer Data

In addition, CoinDesk has access to client data that Tether does not wish to make public regarding USDT. The debate surrounding Tether, which has recently been under regulatory examination, has been fuelled by this news, which has only fueled an already raging fire.

On the day the documents were made public, CoinDesk reported an attack on USDT via DeFi and CEX, according to information provided to it by the New York Attorney General’s Office in connection with Tether’s case. To protect their privacy, Tether has requested that CoinDesk not share any information on their previous or current customers.

Does Binance’s Move Make Sense?

For traders who want to avoid potential risks related to USDT’s de-pegging, Binance’s choice to secure stablecoin liquidity through direct swaps with Tether is a wise one. This action also conveys confidence in Tether’s capacity to sustain stablecoin liquidity in the face of governmental scrutiny.