November 30, 2023

Tether releases another 60 million USDT

According to the Whale Alert service, on March 9 at 15:33, Tether released about 60 more on the Ethereum blockchainmillion USDT.

Paolo Ardoino, technical director at Bitfinex and Tether, said it was just “replenishment.”

“This is an authorized but not released transaction. This amount will be used as a reserve for future requests, ”he said.


However, the cryptocurrency community still startedput forward their versions of the reasons for the new issue of stablecoin. One of the users of the social network Twitter noted that this is a “crypto version of the Fed’s rescue,” comparing the drop in the price of Bitcoin with the mortgage crisis.

35 million USDT transferred from Tether treasury toexchange wallet for further distribution to other exchanges - Binance, Huobi and OKEx. A Bitfinex spokesman emphasized the difference between a issued and authorized transaction, agreeing with Ardoino:

“Authorized Tether are tokens that werecreated on the blockchain and available for distribution. While they are in the treasury, they cannot be considered issued. They are not taken into account in market capitalization, because they have not yet entered the digital system. The issued tokens are in circulation, that is, they are already actually sold by Tether and, accordingly, are secured by US dollars. ”