On August 20, Tether was exchanged for $ 1 billion, in which Binance, Bitfinex and a major firefighter on the TRON (TRX) blockchain were exchanged.

From time to time, news about Tether appears to be burning down some of the shares on the blockchain and then picking up that in other headlines. While this sounds simple, it actually requires careful planning and, most importantly, confidence.

While switching with six transactions spanning two strings that took one hour and one minute, Tether / Bitfinex was never in danger because Binance was the lead party. In two cases – after the first deal and after the fourth deal – Binance was down by $ 400 and $ 600 million, respectively. These companies either need a strong relationship, or there may be several mechanisms involved that we are not aware of.

Another prerequisite for the exchange was for Binance to have a profit of $ 1 billion on a TRON basis and was willing to exchange it for an Ethereum equivalent of USD. It is unclear if the funds are owned by Oslo Børs or are user deposits.

Source: CoinTelegraph