Tether treasury transfers 1 billion USDT to crypto exchange HTX

According to Whale Alert, an on-chain data tracking service, the Tether treasury transferred  1 billion USDT to HTX after minting 1 billion USDT on the Tron network. 

On-chain data revealed that Tether, the USDT issuer, transferred 1 billion USDT to HTX, an Asian cryptocurrency exchange platform. The transfer came after the issuer expanded its supply by minting 1 billion USDT on the TRON network.

Tron founder says HTX is about to experience a Tron season 

Justin Sun, the TRON founder, hinted at a Tron season after the 1 billion USDT transfer to HTX. The founder said that the two biggest exchanges in the world were about to have a Tron season. 

The two biggest exchanges in the world are about to have a TRX szn soon! 🚀

— H.E. Justin Sun 🍌 (@justinsuntron) March 19, 2025

Sun announced an incentive program on the crypto exchange HTX, saying it would offer zero transaction fees for SunPump meme tokens. He said the initiative would run on the exchange for the next month. 

HTX announced that any meme coin that gained traction on SunPump in ranking and trading volume would get direct access to HTX and one month of free trading once it was listed. 

Sun pledged additional support measures to strengthen the TRON memecoin ecosystem. He suggested he would personally cover losses for creators and users on the network. The founder also promised not to use a single cent to benefit himself and that any proceeds would go to charity. 

He added that apart from the trading fee waivers on HTX, TRON would subsidize energy costs for meme coin trading, making transactions free for the next six months. Sun also committed $1 million in funding to incentivize meme coin developers to build on the TRON network. He also promised financial backing and prioritized listings on exchanges such as Poloniex and HTX. 

Sun commented that “the cards are revealed” in response to a Tron announcement detailing a new partnership between TRON and an AI development firm. Tron revealed the partnership aims to enhance the network’s smart contract capabilities and user experience. After the announcement, CoinMarketCap data revealed that Tron (TRX) increased from $0.12 to $0.15 within an hour.  

Tron-based memecoins experienced a 20% surge in their market cap in the past 24 hours. CoinGecko data revealed that SUNDOG, a meme coin on the Tron network, registered an over 10% increase over the past day. Other meme coins such as BULL, SUNCAT and TBULL recorded gains of over 30% each. 

Tether treasury mints more USDT on other blockchains

Tether treasury minted an additional 1 billion USDT on the Ethereum network in February. The minting was recorded on the Ethereum blockchain with the transaction hash 0x123456789abcdefg. 

Etherscan data revealed that, at the time, the total USDT supply stood at 105 billion USDT. Whale Alert also flagged a minting similar to that on the Ethereum blockchain to the Tether treasury earlier this month. The platform also identified an additional $ 1 billion USDT liquidity boost from the Tether Treasury on the Tron network on Feb 28.  The liquidity boost was expected to increase trading volumes on the network, indicating a price surge for altcoins. 

Whale Alert also identified that Tether treasury minted an additional 1 billion USDT in December 2024 on the Ethereum network. Paolo Ardonio, the CEO of Tether, clarified that the move aimed to replenish the inventory on the Ethereum network. He insisted that the funds were authorized but not issued transactions, highlighting a strategic approach rather than an immediate influx of new currency into the market.

In January, HTX received $500 million worth of Tether (USDT), which was later transferred between addresses and distributed to non HTX addresses. The exchange disclosed a total of $696 million USDT, $552 million of which was tether lent on AAVE. It added that it only had approximately $15 million USDT that was not lent out. 

$400 million of the transferred USDT was further distributed to another HTX address, TFTWNgDBkQ5wQoP8RXpRznnHvAVV8x5jLu. The exchange later transferred the funds to different addresses on TRON that were not under HTX’s control. 

On-chain data indicated that February recorded a surge in HTX trading volume. It also revealed that the HTX app logins increased by 8.15% from the previous month, indicating increased user engagement.

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