Billion

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The crypto market, which had recently been relatively stable, experienced a sudden disruption today as Bitcoin's price dipped by 2% from its opening value. This downward shift had a ripple effect, causing altcoins like&nbsp;<a href="https://u.today/xrp-plummets-dramatically-market-has-answer" rel="noopener noreferrer nofollow">XRP</a> to lose 3.37% in value, while&nbsp;<a href="https://u.today/eth-gas-fee-suddenly-soars-to-300-heres-likely-explanation" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> experienced a modest 2.2% decline. 
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="5c07c0e9-3ee5-4d6d-b197-2aeb3dbf7a3c" src="https://u.today/sites/default/files/inline-images/BTC_1D_graph_coinmarketcap_2.jpeg">BTC to USD by <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
Such fluctuations are not uncommon in the crypto space, known for its inherent volatility. However, an intriguing incident unfolded that left the community intrigued. 
Approximately an hour ago, an astonishing $213 million worth of&nbsp;<a href="https://x.com/whale_alert/status/1704835501721858095?s=20" rel="noopener noreferrer nofollow">TrueUSD (TUSD)</a> stablecoin was minted within a matter of minutes. This event raised questions about the involvement of&nbsp;<a href="https://u.today/btc-faces-selling-pressure-from-bitcoin-traders-but-not-all-is-lost" rel="noopener noreferrer nofollow">Binance</a>, the world's largest crypto exchange. With recent issues surrounding its native stablecoin, BUSD, Binance has shown a preference for TUSD, effectively becoming a kind of prominent issuer of this stablecoin. 
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 💵 💵 💵 53,183,900 <a href="https://twitter.com/hashtag/TUSD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TUSD</a> (53,107,155 USD) minted at unknown wallet<a href="https://t.co/YLFeLIKL1h" rel="noopener noreferrer nofollow">https://t.co/YLFeLIKL1h</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1704835501721858095?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 21, 2023</a> 
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The massive TUSD generation has prompted speculation about Binance's role in responding to the market's sudden downturn. Was this a strategic move to address the unexpected collapse, or was it driven by the need for additional TUSD liquidity to meet surging demand for trading pairs? Some experts suggest it could be allocated for market-making and manipulation purposes or to infuse liquidity into the market during periods of instability. 
Stablecoins, as highlighted by Binance's CEO Changpeng Zhao, play a crucial role on the crypto market, being its "fuel." Nonetheless, the exact purpose and destination of this "fuel" injection remain uncertain.

Quarter Billion TUSD Surprise During Crypto Massacre: BTC, XRP and Others Plummet

U_Today

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