< path d="M52.6178 31.3114L44.7476 60.6733L74.1095 68.5435L81.9797 39.1816L52.6178 31.3114Z" fill="#F9C32D"/>
Advertiser Disclosure

Tether prints another 250 million USDT

Avatar
Peter Terlato
Posted: 25 June 2018 3:39 pm
News

This is the third release of tokens by Tether in the past three months, totaling 800 million USDT.

Tether has reportedly issued a further 250 million tokens, according to the latest data analysis.

Fresh data from transactional cryptocurrency tracker Omni Explorer reveals that Tether (USDT), a digital currency reputedly pegged to the US dollar, released 250 million additional tokens on June 25, 2018.

This is the third such release of tokens by Tether in the past three months. In late March, 300 million tokens were printed, while another 250 million USDT were released in mid-May, according to Omni Explorer’s data.


Tether transactions as recorded by Omni Explorer

Litecoin (LTC) founder Charlie Lee took to social media to explain that Tether’s issuance of tokens is comparable to an equal amount of US dollars being deposited to a cryptocurrency exchange.

In a transparency update last week, Tether revealed that earlier this year it had engaged US law firm Freeh, Sporkin & Sullivan LLP (FSS) to carry out a review of its bank account documentation and to perform a randomized inspection of the numbers of Tethers in circulation and the corresponding currency reserves.

The FSS report, based on a random date balance inspection and a full review of relevant bank account documentation, confirmed that all Tethers in circulation were fully backed by existing USD reserves.

Tether and Bitfinex have been the subject of scrutiny over the course of the past several months.

A research report released last week, using algorithms to analyze blockchain data, suggests that Tether may have been used to influence the price of bitcoin and other cryptocurrencies during the recent price explosion. However, the report cannot definitively prove price manipulation. Patterns suggest that exchanges with support for Tether saw prices of alternative coins increase more than on exchanges that did not support Tether.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news

Picture: Shutterstock

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

Latest headlines

Go to site