Tether Treasury Minted 180M USDT in Two Transactions

Vandana  |  Mar 25, 2020

The Tether Treasury has been seen very active for quite some time now. The treasury minted over 180M USDT on Tuesday.

Over the past few days, it is quite clear that there is an increase in the demand for Tether, given the demand for stablecoin has soared amid volatile crypto market. Tether treasury is also witnessing some frequent activities from the past few days.

Tether Treasury issued 240M USDT in three days

On March 20, it was reported that Tether treasury has issued around 240M USDT in just three days and it has not stopped yet. Paolo Ardoino, CTO of Bitfinex has said that Tether treasury has minted 180M USDT in two different transactions.

After the market crash on March 12, the stablecoin treasury has also been very active since then. It is constantly trying to flood the market with new USDT tokens. But if you see overall, then Tether is obviously leading the way in this activity.

There are different interpretations that are coming this way because of such quick movements by the Tether treasuries. Some people are assuming that the bitcoin price will go even lower than ever before. While some on the positive note is hoping for higher bitcoin prices in near future.

Tether not backed by dollars

Tether's stable coin USDT was said to be 100% backed by US Dollar, however, the case against iFinex, the parent company of Tether lead to the revelation what many had been saying for long, that USDT is not 100% backed by the US Dollar. It has been reported earlier that the co-founder of Tether has said that it is not a big deal if USDT is not supported by the dollars.

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