USDT stablecoin issuer Tether says it is working to move 1 billion USDT from Solana to Ethereum to reduce the total amount of USDT circulating on Solana, but the companysaid on Twitter that the overall supply of stablecoins will not change
Earlier this week, Binance suspended USDC and USDT deposits from Solana, but it quickly resumed shortly after. The announcement comes after rival exchange OKX removed both USDC and USDT on Solana and stopped accepting deposits or withdrawals.
“Alameda’s heavy involvement in Solana has not affected the fundamental change in how USDT works and issuance of USDT,” Tether said in the post, referring to the FTX subsidiary that filed the request. Last Week Bankruptcy Coverage
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