Tether Mints $2 Billion USDT in Back-to-Back Ethereum Transactions – Crypto News – Crypto News
Connect with us
Tether Mints $2 Billion USDT in Back-to-Back Ethereum Transactions Tether Mints $2 Billion USDT in Back-to-Back Ethereum Transactions

De-fi

Tether Mints $2 Billion USDT in Back-to-Back Ethereum Transactions – Crypto News

Published

9 hours ago

on

Tether Treasury created two separate tranches of one billion USDT on the Ethereum blockchain within 24 hours, blockchain monitoring data show

Tether Treasury created two separate tranches of one billion USDT on the Ethereum blockchain within 24 hours, blockchain monitoring data show. The first mint, recorded on 16 July, added 1,000,000,000 USDT valued at about $1.00 billion, while a second identical transaction on 17 July introduced 999,951,475 USDT, also worth roughly $1.00 billion.

The 16 July transaction cost 0.000681 ETH in fees and directed the newly issued tokens to a Tether-controlled address commonly used for inventory management. Similar patterns in the past have preceded distribution of the stablecoins to exchanges or institutional customers as market demand rises.

With the latest activity, Tether has expanded circulating USDT supply by roughly $2 billion in two days. The company has not issued a public statement on the rationale for the back-to-back issuances, which were first flagged by blockchain analytics services tracking large on-chain movements.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

Related Topics:
Continue Reading

Trending