Tether has migrated 120 million USDT from the TRON network to the Ethereum network

At 20:40 Beijing time, 120 million TRC20 USDT were transferred from the Bitfinex exchange to the Tether Treasury wallet address. Paolo Ardoino, Chief Technology Officer of Bitfinex, said that this operation is an on-chain token switch, from TRC20 to ERC20. According to previous reports from Chain News, Tether issued an additional 500 million USDT on Ethereum at around 8:30 on August 10 for USDT migration.