Tether has issued 300 million USDT at a timeThe company …
Tether issued 300 million USDT at a time
Tether Ltd, which issues a USD-pegged digital asset, has begun printing its own USDT tokens after a long period of quiet. According to information from the Omni Explorer, 300 million USDT were issued today at 21:51 Moscow time.
Prior to that, the company had been silent for two months. The last case of USDT emission was recorded on January 23rd. According to the portal Trustnodes, on that day the company could receive a subpoena from the US Commodity Futures Trading Commission, which presumably prompted the decision to end uncontrolled emission.
It is not known what events the sudden activation of the Tether machine is associated with, since the company’s relationship with regulators is shrouded in darkness and is almost not reflected in the news feeds..
The total volume of USDT emission until this day was about 2.2 billion.According to the information on the Tether website, the number of USDT tokens in circulation has not yet changed, but the amount of 300 million USDT has indeed already been authorized for issue.
The cryptocurrency community has repeatedly expressed its doubts about USDT tokens, fearing that they, contrary to the company’s obligations, may not have adequate fiat collateral.
Researchers at the Bitmex cryptocurrency exchange concluded that these fears may be unfounded after discovering a possible connection between Tether and the Puerto Rican banking system..
This version was confirmed in a message published this Monday by Bitmex, in which, referring to the report of the Commissioner of Financial Institutions of Puerto Rico, it points to a link between the growth of deposits in Puerto Rican Noble Bank and the growth of USDT emissions..
Despite this, Bitmex does not consider USDT a reliable asset, however, it sees the risks not in the fact that these tokens may not have appropriate fiat collateral, but in the fact that they may attract undue attention of regulators..
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