en
Back to the list

Tron's DAO to Purchase $300M USDT to 'Safeguard' Against Market Slump

source-logo  coindesk.com 10 November 2022 13:39, UTC

Tron decentralized autonomous organization (DAO), a community-focused body that supports development on the Tron network, said that it would purchase over $300 million worth of tether (USDT) stablecoins to cushion against a market decline.

  • "To safeguard the overall blockchain industry and crypto market, TRON DAO Reserve will purchase $300,000,000 #USDT in the market," Tron DAO said in a tweet.
  • USDT slipped 3% on Thursday amid contagion risks stemming from liquidity issues at crypto exchange FTX and its related trading arm Alameda Research, as CoinDesk reported.
coindesk.com