2023-11-14 10:14:47
Stablecoin issuer Tether is actively issuing new USDT tokens, adding an additional 4 billion USDT to the supply in the past month alone. Most recently, 1 billion USDT was issued on the Tron blockchain on November 10, and 1 billion USDT was issued on Ethereum. Tether’s Chief Technology Officer and CEO, Paolo Ardoino, stated that although the transactions have been approved, no issuance has yet taken place. This means that this package will serve as a reserve for future emission needs. Tether’s emissions make many curious The increase in USDT emissions has attracted the attention of the crypto community. Some have pointed out that when Tether’s stablecoin’s issuance volume increased, there was some major market event. The last time Tether issued a large amount of USDT was when US banks such as Silicon Valley Bank, Silvergate and Signature Bank were in serious trouble in March 2023. Incidentally, Tether was also accused at the time of having a serious exposure to Signature Bank, which the company categorically denied. But throughout 2023, the company issued a large amount of new stablecoins. As mentioned, 9 billion USDT were issued in March 2023, before that 3 billion USDT were issued in February. Then in June and July a total of almost 4 billion USDT was issued. Let’s add that it’s not just emissions, Tether also burns the coins. On August 22, 2023, Tether burned 1.2 billion USDT on the Tron chain. It still burned 3.1 billion USDT in June and 2 billion USDT in February. Despite all kinds of rumors and speculations, Tether is also working on expanding its ecosystem. According to Arduino, they will have five new projects in 2024, all of which will have a major impact on popular centralized services.
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