Tether Mints New $4 Billion Worth of USDT

Tether Mints New $4 Billion Worth of USDT

DOLLARStablecoin

By Miles

13 Nov 2023 (8 months ago)

1 min read

Share:

Tether prints 4 billion USDT, hitting 22.75 billion in 2023 amid plans for new 2024 projects.

Tether is creating a lot of new USDT coins, with 4 billion made in just one month.

The company added 1 billion USDT on Tron recently, after making 3 billion on Tron and Ethereum. The CTO claims these are for future use. In 2023, Tether made 22.75 billion USDT, mostly on Tron.

Tether has been busy this year, creating 9 billion USDT in March and 3.75 billion over the summer. They also destroyed some USDT to manage the stablecoin's supply.

People online noticed that big USDT minting sometimes leads to market events, like some banks closing up in March. But Tether denied any connection to these banks or the EVents.

Alongside making USDT, Tether is planning new projects for 2024 that could change some internet services, the CEO hinted.

ShareFacebookTelegram
Go back to All News
Previous article

ARK Invest Sells $6 Million Worth of GBTC

ARK Invest Sells $6 Million Worth of GBTC
Next article

JPMorgan Report Doubts about Bitcoin ETF Effects on Bitcoin

JPMorgan Report Doubts about Bitcoin ETF Effects on Bitcoin