Tether Mints $1 Billion USDT on Tron Network Amid Market Developments
Tether issues 1 billion USDT on Tron after a pause, totaling 31 billion in a year. Tron's stablecoin dominance grows amid market performance challenges and bearish sentiment.
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Tether issues 1 billion USDT on Tron after a pause, totaling 31 billion in a year. Tron's stablecoin dominance grows amid market performance challenges and bearish sentiment.
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Tether's request for an additional 1 billion USDT signals anticipation of an upcoming bull run. The stablecoin's continuous growth and impact on the cryptocurrency markets, especially in relation to recent suspicious movements, raise questions about potential insider knowledge. Investors remain vigilant as Tether's influence on market dynamics persists.
The increase comes as BUSD issuer Paxos faces increasing regulatory scrutiny.
Tether has also recently clarified that its cash reserves for issuing USDT to Alameda were not on Alameda's balance sheet.
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One billion USDT will be transferred to the Ethereum blockchain, while another 20 million USDT will go to Avalanche.