$150 Million New USDT Tether Printed: What Does It Mean?

The issuer of the most popular stablecoin, Tether, has printed a fresh batch of $150 million worth of USDT. The transaction can be viewed here. The cryptocurrency has been sent to Tether’s treasury account and all of the newly printed USDT is based on Ethereum’s blockchain.

Weighing in on the matter was Paolo Ardoino, the acting CTO at Bitfinex. He said that the amount is “authorized but not issued.” Providing further clarifications on the matter, Ardoino explained that the newly minted USDT “was created in the treasury wallet that will be used to fulfill future issuance requests.”

According to Tether’s official transparency page, the total amount of authorized on Ethereum’s network is $2,858,413.62 which is obviously far from the $150M newly printed USDT.

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