Tether Treasury Moved 166M USDT to Binance
- Whale alert tweeted 999,455,988 USDT was transferred from Tether to Binance.
- USDT continues to dominate the stablecoin market.
On March 21 Tether minted $1 billion in USDT on the Tron Network, which follows the billions of USDT that it has minted over the last week. In the last seven days, Tether has minted $4 billion in USDT.
Tether mintings have come as the stablecoin sector is facing increased competition. Tether attempting to attract investors away from the other stablecoins. It looks like Tether is one of the dominant stablecoin issuers in the market for now. However, some still worry about the downfall of stablecoins like USDT.
The whale alert announced that there are 166 million USDT was transferred from the Tether treasure to the Binance. First, the whale alert tweeted that 99,455,988 USDT worth 99,626,057 USD was transferred from Tether treasure to the crypto exchange Binance. Then it also tweeted 66,933,166 USDT (66,953,246 USD) transferred from Tether treasure to Binance.
Tether has faced a lot of scrutiny recently after the wall street journal investigation claimed that its partners used fraudulent documents to provide the company access to the bank accounts. But the report stated that Tether has used its shell companies for bank access in 2018.
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