#Tether 1 Billion USDT Minted

It was reported by Whale Alert that Tether minted 1 billion USDT. This news came after $BTC dropped to $65,000 and increased concerns. Investors were already upset about the loss of value of Bitcoin and altcoins, this new development has created even more anxiety for tomorrow.

While investors were already feeling demoralized due to the declines, their concerns deepened even more with this move of Tether. It seems difficult to expect anything positive in the markets at the moment.

#Tether CEO Paolo Ardoino Made a Statement

Tether CEO Paolo Ardoino made a statement to alleviate investors' sadness and concerns. Ardoino stated that the USDT minted is a stock replenishment in the Tron Network and this amount will be used as inventory for future issuance requests and chain swaps. Thus, he tried to calm the concerns in the market to some extent.

Although Ardoino's statement clarified the situation to some extent, it is still a matter of curiosity what the effects of the printing will be. At the time of writing, the Bitcoin price was at $66,236. All eyes are on how this development will affect the Bitcoin price.