Tether: In the next few hours, it will coordinate with the trading platform to carry out on-chain conversion of USDT, with the total supply remaining unchanged

BlockBeats News, November 6, Stablecoin issuer Tether announced that in the next few hours, Tether will coordinate with a third-party trading platform to conduct on-chain conversion, transferring part of its USDT cold wallet holdings from various blockchains to USDT on the Ethereum network. During this process, the total supply of USDT will remain unchanged.

The specific allocation is as follows (subject to change): 1,000,000,000 USDT on the TRC20 chain, 600,000,000 USDT on the AVAX (C) chain, 300,000,000 USDT on the NEAR chain, 75,000,000 USDT on the CELO chain, and 60,000,000 USDT on the EOS chain will all be converted to USDT on the Ethereum chain.