Already, users can make USDT deposits on these networks. However, withdrawals to new networks are not yet available – Binance will open this option after accumulating a certain amount of deposits. In this case, the site will not make additional notification.
In their statement, Binance representatives recalled that Tether stablecoins based on Arbitrum and Optimism are not native – they are “wrapped” tokens from other networks. Thus, Tether itself does not manage tokens on these blockchains.
Moreover, if in the Arbitrum network One Tether has a certain control over the smart contract of the bridge due to multi-signature, then in the Optimism network all control over the smart contract is in the hands of the Optimism Foundation.
Recall that recently the capitalization of the USDT stablecoin exceeded $83 billion. The token from Tether remains the largest stable cryptocurrency on the market.
Source: Bits
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