TRON DAO Reserve to Withdraw 2.5 Billion TRX from Binance to Support USDD Sustainability

TRON DAO Reserve has said it will withdraw 2.5 billion TRX from the Binance platform “to protect the blockchain industry and the cryptocurrency market.”

The DAO has previously transferred 100M USDT to Binance to buy TRX, a transaction that was part of an effort to keep the stability of the algorithmic stablecoin USDD.

USDD lost its parity against the US dollar last June 13 amid the crypto market crash. The stablecoin has not been able to recover its peg for the third day. On Tuesday and Wednesday, its price dropped to $0.95.

TRON DAO Reserve received 2 days ago 500 million USDC and increased the USDD collateral rate to 310%. Its addresses hold over $1.5 billion in Bitcoin, USDT, USDC and TRX.