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Binance CEO has revealed why the exchange owns 70% of the Tron-based USDT

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In a tweetChangpeng Zhao, the CEO of Binance, says that the largest trade for trading volumes does not discriminate between different versions of the stable currency Tether (USDT).

The fact that Binance has 70% of the total Tron-based USDT supply is entirely attributed to the fact that the trading platform has the highest number of users.

CZ claims that Binance itself does not have 'a lot of USDT', and asks not to confuse client funds with its own funds.

Tether continues to leave his home

Earlier this month, the Tron-based USDT became the third largest version of the flagship's stablecoin, leaving the Omni layer behind.

As of May 22, the number of USDT tokens issued on the Tron network exceeded 2.2 billion.

Tether started migrating from its original chain to Ethereum in November 2017 to ensure faster transactions.

Since then ERC20 USDT has become a dominant force in the world of Tether, representing more than 63% of its total supply, which is approaching the brand of the 9 billion.

In December, the stablecoin funded the development of a new version of Omni that can guarantee faster transaction indexing.

Binance has its own currency to promote

Binance and Huobi cumulatively hold 85% of all TRC20 based tokens. This may seem concerning given that these two exchanges played a key role in the attempt to acquisition of Steem by Tron.

That said, CZ claims that Binance has its own stable coin to promote, making it impartial in Tether's blockchain wars.

Binance launched its dollar-linked "fully audited" stablecoin called BUSD in September 2019. Its market capitalization has already risen to $ 179 million due to increasing demand for fiat-backed cryptocurrencies.





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