- USDT issuer Tether recently minted stablecoins valued at over $1 billion.
- Tether CEO said the minted tokens replenished the USDT inventory on the Tron Network.
- Tether’s move sparked speculation that Bitcoin would reach $72K soon.
Crypto community members have become more bullish about Bitcoin reaching an all-time high amid the staggering value of stablecoins minted from USDT issuer Tether.
Within the last 24 hours, 1,000,000,000 USDT stablecoin valued at over a billion dollars was minted at Tether Treasury. Whale Alert called attention to this development in a recent post on X.
1,000,000,000 #USDT (1,001,555,000 USD) minted at Tether Treasuryhttps://t.co/iKQJX5o2BP— Whale Alert (@whale_alert) March 4, 2024
Whale Alert’s update garnered significant attention, with hundreds of thousands of views within 10 hours of posting. To prevent misunderstandings regarding the purpose of minting one billion USDT, Paolo Ardoino, CEO of Tether, intervened to provide clarification.
Ardoino explained that the minted tokens are intended to replenish the USDt inventory on the Tron Network. Moreover, he noted that while the transaction has been authori…
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