Maybe I should say that again...only in different words. Word is that Tether found an Exchange willing to exchange 1 Billion of its Tron (TRC20) tokens to Ethereum (ERC-20) tokens.
Although many believe the Exchange in question to be Binance, it has not yet been 'officially' released. Should this occur, it will effectively remove 1 Bil in USDT from Tron and add it to the ETH blockchain.
Here's The Real Kicker
According to TheBlockCrypto.com, Exchanges rarely offer this type of a move. When they do, it's because of an overwhelming demand from its user base.
That wasn't verbatim, but does describe the facts within the article. Cryptobriefing.com covers the news as well.
One point they bring up is the move coinciding with the launch of Tether on the OMG blockchain. With high gas fees and the possibility of high congestion, they find this swap of tokens curious.
In addition to Tether and the USDT now available on OMG, it also ties to Bitcoin, Ethereum, EOS, Algorand, Liquid Network, and Tron.
Speculation, Reputation, Or Something Else
Could there be rumors floating around elite circles that Mr. Sun is in legal trouble? That scenario doesn't really fit with what's being reported.
If account holders (instead of Exchanges) demand these types of token swaps, the greater question is why this time?
My best guess? The word is out on the Crypto streets about Sun and his shady dealings. With the drop of certain recent publicity, I wonder how many people involved in Crypto are still unaware of the debacle?
Perhaps we'll learn the truth in the coming days, but there's one thing I know. It's hard to build trust with people, especially in finance. Trust broken is much harder, if not impossible, to rebuild.
Thanks for reading and as always...
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