The Treasury of rope

There has been an explosion of USDT in recent months, issued by Tether. In a sense, the total supply of USDT has increased more than 43% since the beginning of March. However, Tether shows no signs of slowing its emission rate.

Tether USDT Bitcoin

Tether spends another $ 120 million

As reported by the Whale Alert (@whale_alert), just $ 120 million was minted in Tether. As Paolo Ardoino, CTO of Bitfinex, made clear, it is, as always, “replenishment”.

USDT has flooded the market at unprecedented speed in the past month and a half. As BeInCrypto reported several times, March was a very busy month for Tether Treasury. As a result, stablecoin’s market cap has exploded. Tether said its total assets are now $ 6.9 trillion. Just a few weeks ago, on March 27, BeInCrypto reported that the USDT had exceeded the $ 6 trillion mark.

USDT demand appears to have largely come from the stock exchanges. Exchanges like Binance, Bitfinex and others now have more USDT than ever before. It is unclear why the exchanges are increasing their USDT reserves. As reported by BeInCrypto in February, Binance suffered from a USDT lack of margins, which could explain why they are now saving more.

The voice of the critics is worried

It is speculated that Tether is taking advantage of the current chaotic situation to spend a record USDT. There is no guarantee that the USDT will be backed by real dollars. No independent audit has been carried out, and we only found out about Bitfinex’s relationship with Tether Treasury after it was impossible to deny it. Every new amount of USDT is included in the answers with increasing criticism.

Tether is not intimidated by ongoing criticism and continues to issue USDT. However, there are still legal problems on several fronts. The New York attorney general filed a lawsuit against Tether last year for “borrowing” $ 850 million to fund the lack of funds related to crypto capital.

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As a leading blockchain and fintech news company, BeInCrypto always strives to comply with strict editorial guidelines and the highest journalistic standards. With this in mind, we always encourage and encourage readers to do their own research into the information contained in this article. This article is intended as news and is for informational purposes only. The topic of the article and the information provided may have an impact on the value of a digital or cryptocurrency asset, but is never intended. Likewise, the content of the article and the information contained therein do not intend and do not intend to provide sufficient information for a financial or investment decision. This article is not expressly intended as financial advice, it is not financial advice and should not be construed as financial advice. The content and information in this article have not been prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making an investment decision. The author of this article may have any amount of Bitcoin, cryptocurrencies, other digital currencies, or financial instruments at the time of writing, including but not limited to those contained in the content of this article.


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