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 <p class="paragraph">Tether, the world’s largest stablecoin issuer, has minted an additional 1 billion USDT tokens on the Ethereum (ETH) blockchain, fueling speculation about a potential market surge.&nbsp;</p>
 <p class="paragraph">This development coincides with the crypto community’s anticipation of the U.S. Securities and Exchange Commission’s (SEC) decision on a spot Ethereum exchange-traded funds (ETF), expected later this week.</p>
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    <p lang="en" dir="ltr">1,000,000,000 #USDT (1,000,359,999 USD) minted at Tether Treasuryhttps://t.co/i6scFY73OO</p>— Whale Alert (@whale_alert) May 21, 2024
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 <p class="paragraph">Tether’s CEO, <em>Paolo Ardoino</em>, clarified on X (formerly Twitter) that this issuance was for “inventory replenishment” and was an “authorized but not issued transaction.”</p>
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 <p class="paragraph">This means the tokens will be used as inventory for future issuance requests and chain swaps, but are not yet in circulation. This move is viewed by market analysts as a strategic preparation for a potential market rally fueled by the expected approval of an ETH ETF.</p>
 <p class="paragraph"><em>Ivan Sherbakov</em>, CEO of <em>Cryptorobotics</em>, speculated that&nbsp; this influx of liquidity will be used to pump the market ahead of ETF news.</p>
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    <p lang="en" dir="ltr">PSA: 1B USDt inventory replenish on Ethereum Network. Note this is an authorized but not issued transaction, meaning that this amount will be used as liquidity to pump the market ahead of ETF news.</p>— Ivan Sherbakov (We’re hiring!) (@sherbakov_btc_) May 21, 2024
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 <p class="paragraph">Historically, an increase in USDT supply has been linked with broader upward trends in the crypto market, leading to increased trading volumes and a more vibrant digital asset environment.</p>
 <h2 class="wp-block-heading" id="h-tether-s-market-impact">Tether’s market impact</h2>
 <p class="paragraph">As of May 22, Tether’s Transparency page shows $87.8 million worth of these USDT tokens on Ethereum. Tether’s <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap has grown significantly over the past year, exceeding $111 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> and accounting for roughly 70% of the stablecoin <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>.&nbsp;</p>
 <p class="paragraph">This growth has been driven by various factors, including the successful launch of spot Bitcoin ETFs in the U.S. and Tether’s diversification into areas like Bitcoin mining.</p>
 <h2 class="wp-block-heading" id="h-concerns-and-considerations">Concerns and considerations</h2>
 <p class="paragraph">Despite the positive <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> implications, some analysts have expressed concerns about Tether’s lack of transparency. <em>Deutsche Bank</em> analysts have highlighted potential risks associated with Tether’s significant <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> dominance.</p>
 <p class="paragraph">With the total stablecoin <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> capitalization exceeding $160.9 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>, Tether holds a significant share.&nbsp;</p>
 <p class="paragraph">These transparency issues and <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> dominance continue to be debated among analysts and investors, even as Tether’s actions could trigger significant <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> movements if the ETF is approved.</p>
 <p class="paragraph"><strong><em>Disclaimer: </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/tether-mints-another-1-billion-usdt-this-week-is-a-market-pump-ahead-tbt89282.html">https://thebittimes.com/tether-mints-another-1-billion-usdt-this-week-is-a-market-pump-ahead-tbt89282.html</a></p>

Tether mints another $1 billion USDT this week; Is a market pump ahead?

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