Tether minted another 15 million USDT on the TRON network
- Tether Treasury Launches 15 Million More Coins With TRON
- Tether has been flooding the market with stablecoins over the past few weeks
- Bitfinex CTO swears it’s all about restocking
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The Tether Treasury crypto wallet continues to mint coins, issuing 15 million USDT tokens on the TRON network one year after signing a deal with TRON. Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More is listed on several major exchanges such as Binance.
The ability of the management of some cryptocurrencies to freely issue and destroy tokens is a subject of heated debate, as in the case of Ripple, which owns most of the existing XRP tokens. This issue has again come to the fore after it was recently revealed that Tether Treasury has issued a large number of USDT tokens over the past few months..
Big deals with Tether
According to the popular service WhaleAlert, on April 27, 2020, Tether Treasury minted 15 million USDT tokens. It happened just two weeks after he issued almost 120 million USDT tokens on April 13, 2020. Since early March 2020, Tether Treasury has issued a large number of tokens and the total supply of USDT in the market has grown by 43%.
Naturally, this sparked speculation in the marketplace, with some as evidence that the company is engaged in illegal activities. However, Bitfinex CTO Paolo Ardoino clarified that the recent activity is related to the restocking of Tether..
PSA: reserves were replenished by USD 120 million. This is an authorized transaction that has not been released into circulation, therefore, this amount will be used as a reserve to satisfy requests for emission in the next period.
Many market participants are hoarding USDT tokens as exchanges like Binance have increased their USDT holdings. This may be due to the shortage of USDT tokens that Binance faced in February 2020, and a possible desire to avoid a repeat of this situation..
Tether’s partnership with TRON and litigation
These are ERC-20 tokens that were issued through the TRON network. Tether and TRON first signed an agreement to issue USDT as ERC-20 tokens in April 2019. However, in February 2020, Tether conducted a $ 300 million transaction through the TRON network and almost immediately burned the tokens..
#TRON has partnered with @Tether_to to officially bring USDT to the TRON # blockchain.
Tether bitcoin price manipulation explained #tether #usdt
This integration will improve our dApp ecosystem, increase the liquidity of decentralized exchanges and increase availability for partners and institutional investors. $ TRX $ BTT [translation from English]
Despite scandals and suspicions from the public, Tether is not going to stop issuing tokens and conducting transactions. And only time will tell if this recent activity is related to fraudulent schemes or if Tether is simply trying to secure the required supply of its token..
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