Tether minted another $1b USDT on Tron, here’s why
Stablecoin operator Tether again minted a trove of USDT tokens on Tron’s network, but there’s a catch: the coins aren’t yet available for swaps or transactions. According to LookOnChain, Tether has minted $13 billion in new USDT tokens on Ethereum and Tron blockchains since October last year. The latest addition to Justin Sun’s Tron decentralized network is $1 billion in USDT. While the tokens have been minted , on-chain data showed that the USDT added to Tron on Jan. 29 has not been issued yet. This means that the massive mint was intended for future purposes, as confirmed by Tether CEO Paolo Ardoino. PSA: 1B USDt inventory replenish on Tron Network. Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps. — Paolo Ardoino (@paoloardoino) January 29, 2024 You might also like: Aggregate stablecoin supply sees largest increase since October Ardoino’s clarification,...