Tether has been on a coin-printing spree, making a whopping 4 billion USDT tokens in just one month, bringing its total for 2023 to 22.75 billion USDT. This surge in USDT production comes alongside hints of new projects on the horizon for 2024.
Tether, the company behind the popular USDT stablecoin, recently minted 1 billion USDT on the Tron blockchain. Prior to that, they had already created 3 billion USDT on both the Tron and Ethereum blockchains.
According to Tether’s Chief Technology Officer (CTO), these tokens are being prepared for future use, signaling the company’s plans to continue expanding its digital currency offerings.
This year has been a busy one for Tether, with massive coin creation events in March (9 billion USDT) and during the summer (3.75 billion USDT). It’s worth noting that Tether has also burned some USDT tokens to manage the stablecoin’s supply.
Some observers have noted that significant USDT minting events have coincided with market occurrences, such as the closure of certain banks in March. However, Tether has repeatedly denied any direct connection between these events and its USDT operations.
In addition to their USDT production, Tether is hinting at exciting new projects for 2024 that could potentially impact various internet services. While details are currently sparse, the CEO has dropped hints about these upcoming developments.