Suspension of Binance withdrawals related to the security incident does not mean the entire USDT network $USDT stopped.
Estimated reported frozen assets:
$USDT : ± US$1.57 billion
$USDC : > US$800 million
Indicative total: > US$2.37 billion
3 key points:
Suspension of exchange withdrawals ≠ shutdown of the USDT network.
Token freezes apply to specific addresses.
There is no evidence of a systemic USDT depeg.
USDT still needs to be monitored in terms of liquidity, redemption, and market confidence.
Question: Will this incident change users' confidence in stablecoins?