On June 12, Tether's treasury sent Binance $750 million USDT in three batches of $250 million each, following a $10 test transaction. Tether's CTO announced that the stablecoin issuer would mint 1 billion USDT tokens to replenish its inventory on the Ethereum blockchain, which was confirmed by blockchain analytical firm Arkham Intelligence. Tether remains the dominant stablecoin in the crypto industry, with a market cap of $83.38 billion and a 24-hour volume of $20.89 billion, despite regulatory troubles faced by Binance over the past week. The exchange recorded over $3 billion in outflows during the past seven days, according to DeFillama data.