Binance has transferred around $3.9 billion in tether (USDT) from its Tron-based 'Binance-Cold 2' wallet to its 'Binance 3' hot wallet. Out of this, $300 million was sent to 'Binance-Hot 7', leaving approximately $3.6 billion in 'Binance 3'. The transfer is one of the largest tether transactions on Tron to ever occur. Binance's stablecoin activities have come under scrutiny after its failure to appropriately manage Binance-Peg BUSD, and it currently faces lawsuits from the Commodity Futures Trading Commission and Securities and Exchange Commission.
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Binance Moves $3.9 Billion in Tether (USDT) to Hot Wallet, Raises Questions About Stablecoin Activities
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