Tether, the USDT stablecoin’s holder, stated that it was transferring 1 Billion USDT from Solana into Ethereum via a chain swap. This news comes as Solana is struggling due to the collapse of the crypto exchange FTX. The chain swap will result with less USDT being available overall on Solana. However, the stablecoin’s will remain in circulation.

  

Tether, the USDT stablecoin’s holder, announced that it was transferring 1 million USDT from Solana into Ethereum via a chain swap. This news comes as Solana is struggling due to the collapse of FTX. The chain swap will reduce the amount of USDT in circulation on Solana but the stablecoin’s overall supply will not change, according to Tether. OKX also stopped accepting deposits and withdrawals from Solana after the USDC and USDT were delisted. Tether also voiced concern about its USDT being unable to trade with crypto exchanges. FTX, once a major exchange, has strong ties with Solana. The company has made significant investments in many crypto projects associated to Solana. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewTags: EthereumFTXSolanaTetherUSDCUSDT