2.
This is due to chain swaps
https://tether.to/explained-chain-swaps/ …
Some big exchanges use @bitfinex as a swapping facility.
For example, they send Tether-USDt-Tron to get back the same amount of Tether-USDt-Ethereum.
Show this thread
The more you know, Halloween edition
1.
Over the past week(s) you might have seen Tether USDt transactions going from Bitfinex-Hot-Wallet to Tether-Treasury and an equal amount going back to Bitfinex-Hot-Wallet from tether-treasury.
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3. This results in
@bitfinex having a surplus of Tether-USDt-Tron and a deficit of Tether-USDt-Ethereum. To rebalance Bitfinex sends Tether-USDt-Tron to Tether-Treasury to get back Tether-USDt-Ethereum.Show this thread
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