Stablecoin

United

Donald Trump

Bitcoin

Stablecoin issuer Tether minted an additional $3 billion in USDt (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>) tokens on Nov. 23 on the Ethereum and Tron networks amid increased trading volume in the crypto markets — particularly Bitcoin as it neared the $100,000 price level.
Data from Arkham Intelligence revealed that $2 billion in USDt was minted on the Ethereum blockchain and an additional $1 billion USDt was minted on the Tron network in back-to-back transactions.
<a data-ct-non-breakable="null" href="https://x.com/lookonchain/status/1860533976320160248" rel="null" target="null" text="null" title="null">According</a> to Lookonchain, Tether has minted approximately $13 billion USDt since Nov. 8. On Nov. 24, Tether CEO Paolo Ardoino said, “In 2025, Tether will need to reach hyper-productivity to accomplish our grand vision.”
Traders and investors often use stablecoin volume as a proxy to gauge interest in the crypto markets. Many traders regard a high volume of newly minted stablecoins as a bullish sign for price action, while low volume indicates the opposite.
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 <img alt="Tether mints an additional $3B in USDt stablecoins" src="https://s3.cointelegraph.com/uploads/2024-11/01935fd1-f301-7e35-a690-08ae9efcedfe" title="">
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 Tether mints billions in USDt. Source: Arkham Intelligence
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tether-mints-1-billion-usdt-tron-pays-zero-fees-arkham" rel="null" target="null" text="null" title="null">Tether mints $1 billion USDt on Tron, pays zero fees — Arkham</a>
<h2 id="political-tailwinds-and-historic-bitcoin-rally-see-tether-s-fortunes-rise">Political tailwinds and historic Bitcoin rally see Tether’s fortunes rise</h2>
Following the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/live-countdown-us-elections-2024-crypto-industry" rel="null" target="null" text="null" title="null">election of Donald Trump</a> on Nov. 5, the price of Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price%20" rel="nofollow noopener" target="_blank" text="null" title="https://cointelegraph.com/bitcoin-price ">BTC</a>) surged dramatically from about $69,000 to an all-time high of over $99,000 in the two weeks following the United States elections.
Investors and traders use stablecoins like Tether’s USDt as a fiat on-ramp to purchase crypto and an off-ramp to cash out of their positions, so increased trading activity drives stablecoin demand.
According to Bitcoin developer and cypherpunk Adam Back, the price of Bitcoin <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-strategic-bitcoin-reserve-trump-presidency-1-m-btc-signal" rel="null" target="null" text="null" title="null">could go as high as $1 million</a> if a Bitcoin strategic reserve is established under the incoming Trump administration — triggering a sovereign digital arms race to acquire Bitcoin and front-run other nation-states.
On Nov. 19, President-elect Trump chose Cantor Fitzgerald CEO and crypto advocate Howard Lutnick <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-commerce-secretary-howard-lutnick-crypto" rel="null" target="null" text="null" title="null">to serve as commerce secretary</a>. Cantor Fitzgerald manages Tether’s US Treasury reserves backing the USDt stablecoin.
Five days after the cabinet appointment of Lutnick, Cantor Fitzgerald announced it <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cantor-fitzgerald-agreed-to-acquire-5-percent-stake-in-tether-report" rel="null" target="null" text="null" title="null">acquired a 5% stake in Tether</a>, valued at upward of $600 million.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-four-years-grow-cant-be-shut-down-kain-warwick-infinex/" rel="null" target="null" text="null" title="null">Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex</a>

Tether mints an additional $3B in USDt stablecoins

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