The development comes amid resumed regulatory probe at the world’s biggest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued by the U.S. SEC
Binance said in a tweet on Monday it would exchange 750 million tether-tron token pairs for tether-ether in an effort to maintain liquidity of the stablecoin.
The development comes amid resumed regulatory probe at the world’s biggest cryptocurrency exchange and will help protect some of the repercussion from recent blows, including Binance being sued by the U.S. Securities and Exchange Commission.
The exchange, scheduled to begin after 12 p.m. UTC on Monday, will be held directly with the tether team, according to the tweet.
Tether is the biggest stablecoin that intends to maintain a 1:1 peg with the U.S. dollar. Tron is the ninth biggest cryptocurrency with a market value of $6.3 billion, while ether is the biggest after bitcoin, with a market capitalization of $210 billion.
Last week, the Securities and Exchange Commission sued Binance, its Chief Executive Officer and founder Changpeng Zhao, and Binance.US’s operation alleging in 13 charges that Binance had engaged in a “web of deception,” artificially boosted trading volumes and diverted customer funds, and that Binance and Zhao were covertly controlling the U.S. entity while publicly claiming that it was independent.
It will also stop dollar withdrawal channels as early as June 13 after the Securities and Exchange Commission asked a court to freeze its assets, Binance stated on Thursday.
Trading platform Robinhood Markets stated the next day that it was delisting three cryptocurrency tokens from its platform that the Securities and Exchange Commission identified as securities in its lawsuit against Binance.
The Securities and Exchange Commission charged the Tron Foundation and its founder Justin Sun with fraud in March. A month later the U.S. arm of Binance said it would remove digital asset token tron from its trading platform.

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