Tether Mint Another 1 Billion Dollars in USDT

The latest injection sees its market cap grow by another 1 Billion USD.

The marketcap of Tether has been increasing dramatically this year going from $4 Billion USD in Janruary to $34 Billion USD currently – all in the space of just two months.

This news also follows some related news we covered, where a Bitcoin Whale Moves AU$1 Billion of BTC into Storage.

Following the Mint

Some suspicions are that the newly minted USDT is going tom FTX – an offshore crypto derivatives exchange.

Concerns

Some users are voicing their opinions on Twitter. Some suggestions that the new USDT will be used to buy the recent dip – although to our knowledge there has been no proof of this, yet.

Other users are concerned that if the stock market gets tokenised, then the minted cryptos could be used to buy stocks.