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

2 years ago

USDT #USDT

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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.

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