tl;dr
Tether, a major stablecoin issuer, has generated an additional four billion USDT as Bitcoin and other digital assets experience a surge. Lookonchain, a blockchain tracking firm, notes a significant inflow of funds into crypto markets due to Tether's accelerated USDT production, with 2 billion coins ...
Tether, a major stablecoin issuer, has generated an additional four billion USDT as Bitcoin and other digital assets experience a surge. Lookonchain, a blockchain tracking firm, notes a significant inflow of funds into crypto markets due to Tether's accelerated USDT production, with 2 billion coins produced in just two days. The majority of the new USDT has been observed in various crypto exchanges.
Tether's CEO also revealed the firm's substantial holdings, including over 82,000 Bitcoin, US Treasuries worth approximately $100 billion, and over 48 tonnes of gold. Additionally, Tether reported a significant increase in its investment portfolio, emphasizing a focus on technologies aligned with their core mission.
Stablecoin giant Tether has created an additional four billion USDT as Bitcoin and digital assets make another run to the upside. Blockchain tracking firm Lookonchain says that a “massive amount of money” is set to flow into crypto markets as Tether accelerates its production of USDT, with 2 billion coins being printed in just two days. According to Lookonchain’s on-chain analysis, the vast majority of Tether’s newly minted USDT has ended up in crypto exchanges including Binance, Kraken, Bybit, OKX and Coinbase.
Lookonchain also spotted a separate one billion USDT mint from Tether on November 8th and a 728.6 million USDT mint earlier. In a post on the social media platform X, Tether CEO Paolo Ardoino said the firm now holds over 82,000 Bitcoin, a stash worth approximately $6.7 billion at the prevailing BTC price. The stablecoin issuer also owns US Treasuries worth approximately $100 billion and gold weighing over 48 tonnes.
In Q2 of this year, Tether held more than $97.5 billion in US Treasuries, a spike of around $7 billion from the previous quarter. At the time, Ardoino said that outside of the firm’s stablecoin reserves, Tether had built an investment portfolio worth approximately $6.56 billion. “This capital is not managed as a classic VC (venture capital) fund. Tether invests only in companies and technologies that are aligned with our fundamental company mission: disintermediate, build for independence, build for resiliency, build for the future, build for the apocalypse.”