On November 24, COINOTAG reported that Tether Treasury has minted an additional 2 billion USDT on the Ethereum blockchain at approximately 6:08 AM Beijing time. This significant maneuver, tracked by Whale Alert, underscores Tether’s proactive approach in addressing market demand for its stablecoin. According to Tether’s Chief Technology Officer, Paolo Ardoino, this minting was classified as an authorized but unissued transaction. This indicates that the newly minted USDT may be earmarked for upcoming issuance requests, which could enhance liquidity in the market. The move also suggests potential preparations for on-chain swaps, emphasizing Tether’s commitment to maintaining stability and operational efficiency within the ever-evolving cryptocurrency landscape. Investors are advised to monitor these developments closely, as they might impact liquidity dynamics across various trading platforms.
Source: https://en.coinotag.com/breakingnews/tether-usdt-mints-additional-2-billion-on-ethereum-for-upcoming-transaction-requests/