“Tether : Unleashing 4 Billion Tokens In One Month!”

According to a report from Cointelegraph, Tether, a major stablecoin issuer, has created 4 billion USDT tokens in the last month. On November 10, Tether issued an additional 1 billion USDT on the Tron blockchain, as revealed by blockchain data provider Whale Alert. This recent issuance follows the creation of 1 billion USDT on Ethereum on November 9, along with 2 billion USDT issued in two installments on the Tron blockchain on November 3 and October 19.

Tether ‘s Chief

Paolo Ardoino, Tether’s Chief Technology Officer and new CEO, commented on the Whale Alert data, explaining that the latest 1 billion USDT transaction on the Tron network was a ‘USDT inventory replenish.’ He clarified that this amount would serve as inventory for upcoming issuance requests and chain swaps. According to Whale Alert data, Tether is expected to have generated 22.75 billion USDT in 2023, with 13 billion (57%) issued on the Tron blockchain and the remaining 9.75 billion on the Ethereum blockchain.

Tether has been actively creating new USDT stablecoins throughout the past year. In March 2023, Tether minted 9 billion USDT coins, in addition to the 3 billion created in the preceding month. The stablecoin issuer also produced a substantial amount of USDT during mid-summer, issuing 3.75 billion USDT between June 12 and July 12. Alongside the creation of new stablecoins, Tether has also been burning some coins. On August 22, Tether burned 1.2 billion USDT on the Tron blockchain. Previously, the stablecoin firm burnt 3.1 billion Tron USDT in June and 2 billion Ethereum USDT in February, as reported by Whale Alert.