Tether to Transfer Over $1 BN USDT From Tron to Ethereum and Avalanche.
Tether (USDT) has announced that it is organizing a chain swap to transfer USDT assets from Tron's TRC20 to Ethereum and Avalanche's blockchain, in response to recent events in the stablecoin space.
A total of one billion USDT will be sent to the Ethereum blockchain, with another 20 million USDT going to Avalanche from Tron’s blockchain.
Tether claims that this will have no effect on the stablecoin's total supply. After the recent TerraUSD (UST) and Terra (LUNA) debacles, there were fears of a stablecoin implosion.