PANews reported on August 21 that according to Whale Alert data, at 1:54 Beijing time, Tether Treasury minted 1 billion USDT on the Ethereum chain, worth approximately US$1.003 billion.

Tether CTO Paolo Ardoino later said that the transaction was an authorized minting on the Ethereum network to replenish inventory, but it has not yet been issued. These USDTs will be used for future issuance requests and on-chain redemptions.