Beijing Chainan Chainsmap monitoring system found that from 22:09 pm Beijing time on February 20th, Tether cooperated with Binance Exchange to complete the 300 million USDT switch from the TRON chain to the ERC20 standard. Earlier, on its official announcement, TEDA said that it would cooperate with third parties to carry out the switch, and the total supply chain would not change. Immediately after, Binance's hot wallet based on the TRON chain transferred 300 million USDT to TEDA. After this operation was completed, at 22:13 Beijing time, TEDA issued 300 million ERC20 USDT on Ethereum and quickly transferred to the address beginning with 0xf44e17. Next, these USDT will most likely be transferred to Binance related addresses, or this address It belongs to Binance.