Tether Treasury Prints Another $60M USDT as Bitcoin Breaks Past $8,300

Tether Treasury Prints Another $60M USDT as Bitcoin Breaks Past $8,300
фото показано с : beincrypto.com

2020-4-30 03:15

Tether Treasury continues to issue more and more USDT. Today it has printed another 60M USDT, which will be entering the market shortly.

Another day, another batch of USDT issued. Tether Treasury has seldom gone a day without printing more USDT in the past two months, and today is no exception.

Another 60M USDT Issued

Whale Alert (@whale_alert) is reporting that another 60M USDT was issued today. The tweet caught a significant amount of buzz in the cryptocurrency space.

The response to the fresh batch of USDT was largely negative. Many compared Tether Treasury’s printing to the Fed with the infamous meme, “money printer go BRRR.”

With each fresh Tether print, the critics have gotten louder and louder. Months ago, each new mint was met with bullish expectations—each mint is now met with mockery and calls for an investigation.

Tether Treasury Now Has Close to $7.8 Billion in USDT

According to Tether’s own transparency report, the total amount of assets has now reached close to $7.6 billion. For comparison, Tether topped $7 billion just 10 days ago. The expansion of USDT has been happening at an unprecedented rate. On April 21, BeInCrypto reported $1 billion had been issued then in just the prior 25 days. 

The common justification for Tether’s USDT printing is that demand for USD-backed stablecoins is at an all-time high. However, only Tether seems to be issuing coins at a record rate. There have been many explanations floating around for the flood of stablecoins we have seen in the past two months.

Tether today simply may be ‘too big to fail,’ and this allows it to eschew any criticisms. Unlike before, Bitcoin has also been slow to react to Tether’s USDT issuance; in the past, it would rise upon the news. The correlation between USDT and BTC is, therefore, weaker today. However, Bitcoin has seen a drastic rise today and is currently trading past $8,300.

The post Tether Treasury Prints Another $60M USDT as Bitcoin Breaks Past $8,300 appeared first on BeInCrypto.

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usdt another treasury tether past day 60m

Источник: beincrypto.com

usdt another → Результатов: 94


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Tether the parent company behind the leading stablecoin in the cryptocurrency market USDT has been at the center of the ongoing controversy regarding its role in manipulating Bitcoin prices. Now the on-chain metrics of tether revealed another worrying stat which suggested that 70% of the total market supply of USDT is controlled by just 104 […]

2019-10-16 20:07


Фото:

Yet another reason to dislike Tether: 300 addresses hold 80% of the ‘stablecoin’

Infamous stablecoin and pseudo currency Tether (USDT) doesn’t exactly have the cleanest of rap sheets, and if you needed another reason not to trust it, keep reading. According to recent findings from cryptocurrency researchers at Coin Metrics, around 300 entities hold about 80 percent of the Tether currently in circulation, Bloomberg reports.

2019-8-8 11:30


Tether [USDT] Whale Alert: 20 million USDT moved from Bitfinex to Tether Treasury as Bitcoin pumps

The infamous Bitfinex-Tether saga is far from cooling down after the oldest stablecoin, USDT, recorded a series of unusual fund movements to unknown wallets from its treasury. Whale Alert, the ever-observant Twitter handle which tracks significant cryptocurrency transactions, reported another movement by the controversial Tether.

2019-6-10 19:45


Tether [USDT]’s volume should be seen as a ‘completely irrelevant metric’, says researcher

Tether [USDT] has been a topic that has been voraciously discussed across the board lately, with the Bitfinex-Tether scandal providing the ground for the controversy surrounding the stablecoin. Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges.

2019-5-25 23:30


Фото:

Tether and Bitfinex Ask New York Attorney General for Fund Accessibility

Attorneys for Tether and Bitfinex are hoping to get the former access to its reserves amid a legal dispute with New York Office of the Attorney General (NYOAG). In a letter sent to the New York County Supreme Court, attorneys representing iFinex (the parent organization of Bitfinex) and Tether took issue with the restrictions that had been placed on Tether's transactions with related parties as part of an ongoing case against them, stating that the NYOAG had no basis for disallowing tether (USDT) holders and other affiliated entities from redeeming their tokens.

2019-5-16 18:51


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