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

Previously, the DAO transferred 100 million USDT to Binance to buy TRX. The transaction was part of an effort to keep the USDD algorithmic stablecoin stable.

On June 13, amid the volatility of the cryptocurrency market, USDD lost parity against the US dollar. The stablecoin failed to restore the link to the anchor asset for the third day. Its price dropped to $0.95 on Tuesday and Wednesday.

At the time of writing, the stablecoin is trading around $0.97.

On June 14, TRON DAO Reserve received 500 million USDC, increasing the USDD collateral rate to 310%. Their addresses are worth over $1.5 billion in bitcoin, USDT, USDC and TRX. A portion of the collateral (more than $723 million) also falls on the cryptocurrency, which is withdrawn from circulation in the process of issuing a stablecoin.

Recall that after the collapse of UST and LUNA, the Tron team announced that they changed USDD to an “over-supported stablecoin”.