Tether, 400 million dollars in cooperation with the Huobi exchange, run by Justin Sun. USDT the amount of Ethereum Performed a chain swap by sending TRON from ERC20 to TRC20.
As it is known, some FUDs have been spread about USDT running on the Tron network recently. In the news in question, it was reported that some Chinese companies do not accept USDT payments on the Tron network and instead only support Ethereum’s ERC20 network.
400 Million Dollars USDT Transferred from Ethereum Network to Tron Network
The Tether official account announced the development as follows:
“In a few minutes, Tether will coordinate with Huobi to perform a chain swap, transferring 400 million USDt from Ethereum network ERC20 to Tron. The total supply of Tether will not change during this transaction.”
In few minutes Tether will coordinate with Huobi to perform a chain swap, converting from Ethereum ERC20 to Tron, for 400M USDt. the #tether total supply will not change during this process.
Learn more about chain swaps ⬇️https://t.co/abfgnEMqkQ
— Tether (@Tether_to) January 13, 2023
On the Huobi side, the development was announced by claiming that the Tron network is much faster and less expensive than the Ethereum network:
“The liquidity and transfer rate of TRC20 USDT is much higher and the fee is much lower than ERC20 USDT.
Therefore, Huobi will transfer the 400 million USDT held in the wallet starting with 0x1870 to the TRX chain via Tether.”
After the previous FUD news, Justin Sun shared a long post on his official Twitter account and claimed that the security of USDT tokens on the TRX network is high.
*Not investment advice.
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