Tether (USDT) to Enlist Third-Party Help to Transition from TRC20 to Ethereum and Avalanche

the biggest stablecoin in terms of market value, has announced it was performing a "chain swap" with a yet undisclosed third party after it fell today to lows of $0.941 on Coinbase. The announcement on its official Twitter handle reads: "In few minutes Tether will coordinate with a 3rd party to perform a chain swap, converting from Tron TRC20 to Ethereum ERC20, for 1B USDt and from Tron TRC20 to Avalanche, for 20M USDt. The #tether total supply will not change during this process."