100 Million New Tether USDT Tokens Minted
CryptoNewsTerminal Staff13 Aug, 2024
100 Million New Tether USDT Tokens Minted
According to Whale Alert, 100 million USDT was recently issued from the Tether treasury address. Tether is a cryptocurrency that is pegged to the US dollar. This means that each USDT token is supposed to be worth $1. Tether is one of the most popular stablecoins used by cryptocurrency traders because it is seen as a safe haven asset during market downturns. This is not the first time that Tether has issued new tokens. In 2022, Tether issued a total of $6 billion in new USDT tokens, which raised some eyebrows among cryptocurrency analysts. The issuance of new USDT tokens has led to concerns about the stability of the coin, especially since Tether is not backed by any real assets. However, Tether has always maintained that its tokens are fully backed and that it has the reserves to cover all of its outstanding tokens.
