USDT stablecoin issuer – Tether – authorized to release 1 billion coins on the Tron network. The last time the company replenished its reserves was in September 2023, when it issued 1 billion USDT. Before this, the firm printed another 1 billion USDT in July.
PSA: 1B USDt inventory replenish on Tron Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.https://t.co/Y1bqxZglgR
— Paolo Ardoino 🍐 (@paoloardoino) October 19, 2023
The company’s CTO Paolo Ardoino noted on his X (formerly Twitter) that the volume of Tron-based stablecoins has been authorized but not released. According to him, this means that it will be used for further emission or swaps between blockchains.
At the time of writing, USDT’s capitalization is $84.17 billion:
According to DeFiLllamaat the time of writing, USDT’s market dominance is 67.24%.
In October, Tether changed its CEO to Paolo Ardoino, who will take the position in December 2023. The company also noted that it froze addresses related to the financing of the war in Ukraine and Israel.
Source: Cryptocurrency
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