Tether Sequentially Prints $2 Billion USDT: What’s Happening?

According to the information received, Tether has sold 1 billion dollars in two separate times, the first with a value of $ 1.002 billion and the second with a value of $ 1.004 billion. USDT he minted. According to reports, the company printed 1 billion USDT in two separate times, the first with a value of $ 1.002 billion and the second with a value of $ 1.004 billion.

Tether CTO Makes Statement on the Subject

Cryptocurrency In response to the latest news that his company Tether has minted 2 billion USDT, Tether’s CTO Paolo Ardoino made a statement that sheds light on the situation. According to Ardoino, the company’s recent minting of 1 billion USDT on the Tron network was more than just an inventory replenishment, rather than an attempt to flood the market with new stablecoins.

Ardoino explained in a tweet that the transaction is “authorized but not issued,” meaning that 1 billion USDT will be held as inventory to meet future issuance requests and chain swaps. This suggests that Tether is preparing for the increased demand for USDT rather than trying to manipulate the market by flooding it with new stablecoins.

PSA: 1B USDt inventory replenish on Tron Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.

— Paolo Ardoino 🍐 (@paoloardoino) March 14, 2023

Ardoino’s announcement is likely to reassure investors who are worried about the spike in USDT supply. With such a large share of the stablecoin market, any major changes to Tether’s inventory could have a major impact on the overall cryptocurrency market.

While the exact reasons behind Tether’s decision to replenish its inventory remain unclear, Ardoino’s statement indicates that this move is part of the company’s ongoing efforts to provide liquidity and stability to the crypto market.

*Not investment advice.