The world’s largest stable coin has been raising its issuance in the last few days to a remarkable level.
As previously reported, Tether released a new $ 60 million on Thursday and another $ 60 million. With Bitcoin now surpassing the $ 6,000 price tag, many have attributed the latest issues of Tether coins as a major catalyst. However, in the long run, this will not remain so for a long time, unless Bitcoin can remain stable above a new level of support.
💵 💵 💵 💵 💵 💵 💵 60,000,000 #USDT (60,348,158 USD) minted at Tether Treasury
— Whale Alert (@whale_alert) March 20, 2020
Tether is among the most controversial stable coins since it has never been properly audited. Last year, it was announced that the co-founder of Tether says it “doesn’t really matter” whether the USDT is backed by real dollars. The close relationship between Bitfinex and Tether was also only revealed last year after being hidden for a long time. Stock-Ups As for the other two $ 60 million batches, the last one was for ‘top-up inventory’. As mentioned by the followers of Bitfinex, CTO Paolo Ardoino, the transaction has not yet been launched. This means that three times already, Tether Treasury claims to be simply supplementing its inventory. However, Tether (USDT) rarely burns (destroys)