According to Cointelegraph, major stablecoin issuer Tether has minted 4 billion USDT tokens over the past month. On November 10, Tether issued another 1 billion USDT on the Tron blockchain, as reported by blockchain data provider Whale Alert. This latest minting came just a few days after Tether issued 1 billion USDT on Ethereum on November 9, in addition to 2 billion USDT issued in two batches on the Tron blockchain on November 3 and October 19.
Tether's chief technology officer and new CEO, Paolo Ardoino, commented on the Whale Alert data, noting that the latest 1 billion USDT transaction on the Tron network was a 'USDT inventory replenish.' He explained that this amount would be used as inventory for the next period issuance requests and chain swaps. Based on Whale Alert data, Tether should have minted 22.75 billion USDT in 2023, with 13 billion, or 57%, having been issued on the Tron blockchain. The remaining amount of 9.75 billion USDT was issued on the Ethereum blockchain.
Tether has been actively minting new USDT stablecoins over the past year. In March 2023, Tether minted 9 billion USDT coins, in addition to the 3 billion minted over the previous month. The stablecoin issuer also minted a significant amount of USDT in mid-summer, issuing 3.75 billion USDT between June 12 and July 12. While actively minting new stablecoins, Tether has also been burning some coins. On August 22, Tether burnt 1.2 billion USDT on the Tron blockchain. Previously, the stablecoin firm also burnt 3.1 billion Tron USDT in June and 2 billion Ethereum USDT in February, according to Whale Alert.
