Ethereum

Bitcoin

Arkham

Billion

Adam Back

Tether, the issuer of the stablecoin USDt, minted an additional $3 billion worth of tokens on November 23 across the Ethereum and Tron networks. This move comes amid a surge in cryptocurrency trading activity, particularly as Bitcoin edges closer to the $100,000 mark. 
Arkham Intelligence reported that $2 billion in USDt was issued on Ethereum, with another $1 billion created on Tron through consecutive transactions. Meanwhile, Lookonchain noted that Tether has minted around $13 billion in USDt since November 8. 
On November 24, Tether’s CEO, Paolo Ardoino, commented on the company’s future plans, stating, “In 2025, Tether will need to achieve hyper-productivity to realize our ambitious goals.” 
Stablecoin issuance is often viewed as an indicator of market sentiment. Increased stablecoin volume is typically seen as a positive sign for price movements, while lower issuance may suggest reduced market interest. 
After Donald Trump’s election on November 5, Bitcoin’s price saw a sharp rise, climbing from around $69,000 to a record-breaking high of over $99,000 within two weeks of the U.S. elections. 
Stablecoins like Tether’s USDt play a crucial role in the crypto market, acting as a bridge for investors to convert fiat currency into crypto and vice versa. This surge in trading activity has driven higher demand for stablecoins. 
Prominent Bitcoin developer and Cypherpunk Adam Back suggested that Bitcoin’s value could potentially reach $1 million if the Trump administration establishes a strategic Bitcoin reserve. Such a move could ignite a global digital race among nations to accumulate Bitcoin ahead of competitors. 
On November 19, President-elect Trump appointed Howard Lutnick, CEO of Cantor Fitzgerald and a pro-crypto advocate, as commerce secretary. Cantor Fitzgerald manages Tether’s US Treasury reserves, which back the USDt stablecoin. 
Just five days after Lutnick’s appointment, Cantor Fitzgerald revealed its acquisition of a 5% stake in Tether, worth over $600 million. 
The post <a href="https://www.unlock-bc.com/133097/tether-issues-3-billion-more-usdt/">Tether Mints $3 Billion in USDT as Bitcoin Nears $100K</a> appeared first on <a href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

Tether Mints $3 Billion in USDT as Bitcoin Nears $100K

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