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For a chain swap, Tether mints 2 billion USDT – and a whole lot of FUD
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Tether’s holdings and the question of whether its USDT stablecoin is fully backed by dollars is a sore spot for the company. More recently, however, the burning and minting of billions of USDT has again ignited a firestorm of FUD.
On 4 November, crypto watchers were more than just a little alarmed when the Whale Alert Twitter account revealed that Tether had minted 2 billion USDT and burned 1 billion USDT.
Source: Whale Alert
To calm the waters, Tether CTO Paolo Ardoino posted that each 1 billion USDT incident was an “inventory replenish” on the Ethereum and Tron networks respectively.
Source: Whale Alert
Source: @whale_alert
However, Tether seemed to anticipate the stir the move might cause, and had prepared a statement in advance. The
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