According to blockchain analytics firm Arkham Intelligence, Tether’s Treasury sent $750 million in USDT to Binance on June 12. The transactions were sent in three batches totaling $250 million following a $10 test transaction. Earlier today, the exchange informed users that it would swap $750 million of USDT-TRX for USDT-ETH directly with Tether to ensure stablecoin liquidity on all chains. Tether Mints $1 Billion Earlier on June 12, Tether’s CTO Paolo Ardoino tweeted that the stablecoin issuer will mint $1 billion in USDT tokens to replenish its inventory on the Ethereum blockchain.

Blockchain analytics firm Arkham confirmed the transaction, adding that it was the first time Tether had been minted on Ethereum since late April. Arkham Intelligence noted that the stablecoin issuer held just $146 million in USDT on the blockchain 12 hours ago.

Ardoino said the transaction was “authorized but not issued…which means the amount will be used as inventory for the next issuance request and chain swap.”

A chain swap is the process of transferring cryptocurrency from one blockchain to another. According to Tether’s website, it typically performs this process in response to a swap request where there is surplus funds on one blockchain but shortage funds on another.

Meanwhile, Tether remains the dominant stablecoin in the cryptocurrency industry with a market cap of $83.38 billion and a 24-hour trading volume of $20.89 billion, according to CryptoSlate.

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