Tether Mints $150 Million on Ethereum

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Summary

Tether has just authorized the issuance of $150 million USDT on ethereum’s blockchain earlier today. The page itself shows eth USDT has grown from $500 million to $650 million with only about $3 million authorized, but not issued. That $45 million has presumably been taken up, so they’ve now minted $150 million more, about a third of all previous eth USDT, for whoever wants them. A fee of just $0.43 was paid to create $150 million worth of ERC-20 tokens with Tether’s market cap now rising to above $3.3 billion. So these $150 million ERC20 tokens do most likely have something to do with eth more than bitcoin or 50 cent.

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Tether has just authorized the issuance of $150 million USDT on ethereum’s blockchain earlier today.

A fee of just $0.43 was paid to create $150 million worth of ERC-20 tokens with Tether’s market cap now rising to above $3.3 billion.

Tether prints $150 million on ethereum, June 2019

“This is authorized but not issued,” Paolo Ardoino, Bitfinex CTO said, meaning “these tethers were created in the treasury wallet that will be used to full fill future issuance requests.”

Last time we looked, on May 26th 2019, Tether had printed $500 million eth based USDT in total, with about $45 million authorized, but not issued.

That $45 million has presumably been taken...

Read the full article @ TrustNodes