Tether Mints 4 Billion USDT in 1 Month

Over the past 30 days, the company responsible for issuing Tether has created an additional 4 billion USDT stablecoins. This information is supported by data from WhaleAlert.

Throughout the month, the company has issued new stablecoins on four separate occasions: October 19 – 1 billion USDT on the Tron network; November 3 – 1 billion USDT on the Tron network; November 9 – 1 billion USDT on the Ethereum network; November 10 – 1 billion USDT on the Tron network.

In response to WhaleAlert’s post, Tether CEO-designate Paolo Ardoino explained that the most recent transaction was conducted for the purpose of replenishing USDT reserves.

“Please note that the transaction is authorized but the coins have not been released into circulation. The amount will be utilized as reserves for future issuance and network swaps,” he added.

As of now, Tether has printed a total of 22 billion USDT in 2023, with 13 billion of it (57%) on the Tron blockchain.

According to CoinGecko, the stablecoin’s market capitalization has risen by 3.5% in the past month to reach $86.7 billion.