Tether to Relocate $1B from TRON to Ethereum
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Tether, an issuer of the USDT stablecoin, has converted $1 billion in the stablecoin through a chain swap from the TRON blockchain (TRC20) to Ethereum (ERC20).

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The company said in a tweet it will also convert $20 million from TRON to Avalanche. Although Tether said that USDT total supply won't change during the process, it declined to elaborate about why it decided to move the funds. The move comes after Justin Sun, CEO of the TRON Foundation, believes that the algorithmic stablecoin USDD, which was launched on the network earlier this month, could come under imminent attack.

Algorithmic Stablecoin USDD is Launched on the TRON Network

In order to prevent the USDD from losing its parity with the US dollar, Sun pledged to allocate $2 billion through TRON DAO Reserve. In the meantime, Terra Labs, the firm behind the Terra blockchain, paused the network after its native cryptocurrency terra (LUNA) lost over 99% in a single day.

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