The stablecoin issuer has been actively creating new USDT tokens, with the latest 1 billion USDT being minted on the Tron blockchain on November 10th, as reported by blockchain data provider Whale Alert. This comes shortly after Tether issued another 1 billion USDT on Ethereum on November 9th, in addition to 2 billion USDT issued in two separate batches on the Tron blockchain on October 19th and November 3rd.

USDT Tether
Tether Mints Billions Last Month


Paolo Ardoino, Tether's chief technology officer and new CEO, confirmed on X (formerly Twitter) that the latest 1-billion-USDT transaction on the Tron network was simply a "USDT inventory replenish."

What is Tether (USDT)?

As the largest stablecoin in terms of market capitalization, Tether (USDT) plays a crucial role in the world of cryptocurrencies. Traders utilize this stablecoin to smoothly transfer funds between various digital assets or seamlessly transition their investments into traditional fiat currencies, all while remaining shielded from the unpredictable price fluctuations that commonly impact cryptocurrencies like Bitcoin (BTC).

What are stablecoins?

Stablecoins are cryptocurrencies whose value is pegged, or tied, to that of another currency, commodity, or financial instrument. Stablecoins aim to provide an alternative to the high volatility of the most popular cryptocurrencies, including Bitcoin (BTC), which has made crypto investments less suitable for common transactions.

Tether has been actively increasing the supply of USDT stablecoins throughout the previous year. According to data from Whale Alert, Tether minted a substantial 9 billion USDT coins in March 2023, along with an additional 3 billion minted in the preceding month. Furthermore, during the summer months, Tether issued a noteworthy amount of USDT, totaling 3.75 billion between June 12th and July 12th. Tether, has been actively creating new stablecoins while also reducing the supply through burning.

On August 22nd, Tether burned 1.2 billion USDT on the Tron blockchain. This follows previous burnings of 3.1 billion Tron USDT in June and 2 billion Ethereum USDT in February. The recent minting transactions of USDT have garnered attention from the cryptocurrency community. A crypto enthusiast expressed their observations on X regarding the impact of Tether's aggressive minting on the market.

Following the bank implosions, some industry experts claimed that Tether and Signature had exposure to each other. However, Tether has denied these allegations and reiterated that it had no exposure to Silvergate, Silicon Valley Bank, and Signature Bank. In addition to actively minting new coins, Tether is also working on integrating a major ecosystem component, as announced by its CEO on Twitter. The company is preparing to unveil five new projects in 2024, some of which could potentially replace popular centralized Web2 services. BitCrypto Gazette has reached out to Tether for comment but has not received an immediate response.