In a new step in its financial strategy, Tether announced the issuance of $1 billion of its stablecoin USDT on the Ethereum network. 😲 The company’s CTO, Paolo Ardoino, stated that this issuance is classified as “permitted but not issued,” meaning that these coins will remain in reserve without entering actual circulation at the present time. 🛑
💡 The goal of this step is to enhance liquidity and ensure stability in the cryptocurrency market. The new tokens are allocated as a reserve for future releases, which facilitates exchanges between different networks. 🔄
However, this move has not been without criticism. ⚠️ Some observers have expressed doubts about Tether’s transparency, accusing the company of using these releases to influence the prices of other digital currencies such as Bitcoin. 📉
These developments come at a sensitive time for digital markets, and the question remains: Will these steps enhance market stability, or will they raise further concerns? 🤔