Tether, the leading stablecoin issuer, has created 1 billion USDT tokens on the Ethereum blockchain to replenish its inventory. While some believe that the creation of new USDT tokens will boost demand for cryptocurrencies, Tether's CTO Paolo Ardoino stated that the tokens are generated to support chain swap functions. Tether collaborates with third parties such as exchanges and hedge funds to rebalance the liquidity of their USDT across different chains, allowing users to bridge assets across multiple chains. This is Tether's second billion-dollar USDT mint in less than two months, and it remains the largest stablecoin issuer on all blockchains, with a current total supply of over 83 billion tokens.
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Tether Mints 1 Billion USDT Tokens on Ethereum Blockchain for Inventory Replenish and Chain Swaps
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