In spite of Tron’s Bitfinex/Tether scandal, where Tether’s stablecoin USDT was allegedly used in manipulating markets, it has remained stable, with large volumes of Tether transactions between the Tether treasury and various crypto exchange platforms.
Two large Tether transactions to and from Houbi, a Chinese crypto exchange, were noted.
THE FIRST 10 MILLION USDT
The first Tether transfer, done on an Omni Explorer, moved 10 million USDT (worth about $10,004,881) from a cryptocurrency wallet (1FwWBMfwxE9ngQ5DJKHFQsZ1wqpfD1sjpk) to another wallet (1EPDc4Cw4xiqsoWCHnWepfwbqWLcBFamwm). The receiver had a zero USDT balance while the sender had a 22 million USDT balance after the transaction .
On Twitter, @whale_alert tweeted,
“10,000,000 #USDT (10,004,881 USD) transferred from #Binance to #Huobi”
In response to the tweet, Binance‘s CEO, Changpeng Zhao, stated that the transaction was not done on the Binance platform, “wrong label, not our address”.
THE SECOND 10 MILLION USDT (APPROX).
The second transaction, however done on the Tron blockchain, moved 9,999,999 USDT from wallet A (sender: TNaRAoLUyYEV2uF7GUrzSjRQTU8v5ZJ5VR) to wallet B (receiver: TAyAA1xjZGyjQYP8UHp5qFtRcLgUG2XnPi).
After the transaction ‘wallet A’ had a balance of 61,103 USDT, while ‘wallet B’ had a 16.3 million USDT balance.
USDT GIVEAWAY POSTPONED
Tron, Ethereum’s long standing competition and who in recent times beat Ethereum’s all time high transaction volume, last month started a project for the issuance of USDT as a giveaway on its blockchain (TRX).
However, this project has been indefinitely postponed, due to the current Tether and Bitfinex fiasco.
On Twitter a user, @random_exp, tweeted:
“This is coming from the @TMZ in cryptos of the likes @CryptoChico…”
Another Twitter user, @ISayHowItIs, tweeted
“best CEO ever = @cz_binance and hack just make him stronger and more open to community. Other exchanges CEO’s this is a great example for you how to #BUIDL and even worst happen still exist with huge community support!”