#Tether watch!
BREAKING: 🚨Binance continues to abandon the TRON blockchain!🚨
They've done another $500M chainswap and are now up to $5B chainswapped THIS MONTH!
They were already adding USDT on ETH via the Kraken prints/chainswaps, but they accelerated it after the election.
BREAKING: 🚨Binance continues to abandon the TRON blockchain!🚨
They've done another $500M chainswap and are now up to $5B chainswapped THIS MONTH!
They were already adding USDT on ETH via the Kraken prints/chainswaps, but they accelerated it after the election.
https://twitter.com/DesoGames/status/1862069977810862303
Below top 100 holders on TRON now hold 82.5% of supply, and that'll increase if Tether swaps more/burns what's in the treasury.
Without Cold 3 which is backing BSC-USD tokens on the BNB chain, Binance has LESS THAN $1B USDT LEFT in their wallets *in the top 100*.
Without Cold 3 which is backing BSC-USD tokens on the BNB chain, Binance has LESS THAN $1B USDT LEFT in their wallets *in the top 100*.
On ETH, wallet #9 called Binance 74, *has more USDT in it than Binance has across ALL its hot wallets on TRON*.
Binance Cold 2, which used to hold the majority of Binance's USDT, is now *empty*.
This is while it was still at a high of $11B only a year and a half ago. Difference is previous dips in holdings was money getting shuffled and washed around.
Now it's left the chain entirely.
This is while it was still at a high of $11B only a year and a half ago. Difference is previous dips in holdings was money getting shuffled and washed around.
Now it's left the chain entirely.
Arkham hasn't updated yet (and finding data that shows a chart of holdings per chain specifically is hard), but the next time they do, Binance will show ~$3.2B USDT on TRON and ~$25B USDT on ETH.
Even when the majority was TRON USDT, the relationship was never *this* lopsided.
Even when the majority was TRON USDT, the relationship was never *this* lopsided.
I will remind everybody that *Binance has 50% of global market share*.
THESE ARE SUPPOSED TO BE CUSTOMER FUNDS!
Binance has converted coins on their user's behalf before - they auto-converted USDC to BUSD for example. So there is precedent for them commingling funds.
THESE ARE SUPPOSED TO BE CUSTOMER FUNDS!
Binance has converted coins on their user's behalf before - they auto-converted USDC to BUSD for example. So there is precedent for them commingling funds.
But like FTX, they're too cavalier with their customer funds, and if you chainswap $20B of funds from one chain to another over time, then there HAS to be some customer funds involved.
Or worse, there aren't, and Binance is as much a ponzi/pyramid scheme as Tether is.
Or worse, there aren't, and Binance is as much a ponzi/pyramid scheme as Tether is.
As for why they're doing this, i'll stick with my best guess: Justin Sun is a MASSIVE liability which'll blow up one of these days and the TRON blockchain is just a public ledger of crime.
The cartel is getting ready to clean house. Hence Justin investing in Trump as a hail mary
The cartel is getting ready to clean house. Hence Justin investing in Trump as a hail mary
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