Tether Treasury Mints 2 Billion USDT on Ethereum in Coordinated On-Chain Exchange Move

On November 12th, COINOTAG News reported significant movement within the cryptocurrency market, as Whale Alert highlighted a critical transaction involving Tether. At approximately 1:07 AM Beijing time, Tether’s treasury issued an additional 2 billion USDT on the Ethereum blockchain. Tether’s CEO, Paolo Ardoino, clarified that this transaction was classified as authorized but unissued, indicating preparations for future issuance requests alongside supporting on-chain exchange inventories. Furthermore, Ardoino elaborated that the transaction was executed in collaboration with a prominent third-party exchange, facilitating the conversion of USDT between blockchains. Notably, throughout this operation, the overall supply of USDT is projected to remain unchanged. This strategic maneuver underscores Tether’s agility in managing liquidity and responding effectively to market demands while ensuring stability across various blockchain platforms.