Tether issued another 1 billion of Tether on the Tron blockchain on Nov. 10, the blockchain data provider Whale Alert reported<\/a>. The latest USDT minting came just a few days after Tether issued<\/a> another 1 billion USDT on Ethereum on Nov. 9, in addition to 2 billion USDT issued<\/a> in two batches on the Tron blockchain on Nov. 3 and Oct. 19, according<\/a> to Whale Alert data.<\/p>\n Tether chief technology<\/a> officer and new CEO Paolo Ardoino commented on Whale Alert data on X (formerly Twitter<\/a>), noting the latest 1 billion USDT transaction on the Tron network was a \u201cUSDT inventory replenish.\u201d He wrote<\/a>:<\/p>\n \u201cNote this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.\u201d<\/p><\/blockquote>\n The recently issued USDT makes up a significant share of the total USDT issued this year. 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.<\/p>\n Tether has been actively minting new USDT stablecoins over the past year. In March 2023, Tether minted a whopping 9 billion USDT coins, in addition to the 3 billion minted over the previous month, according to Whale Alert data. The stablecoin issuer also minted a significant amount of USDT in mid-summer, issuing 3.75 billion USDT between June 12 and July 12.<\/p>\n While actively minting new stablecoins, Tether has also been burning some coins. On Aug. 22, Tether burnt<\/a> 1.2 billion USDT on the Tron blockchain. Previously, the stablecoin firm also burnt<\/a> 3.1 billion Tron USDT in June and 2 billion Ethereum USDT in February, according<\/a> to Whale Alert.<\/p>\n The cryptocurrency community has quickly reacted to the most recent USDT minting transactions. One crypto enthusiast took to X to share some observations about how previous aggressive Tether USDT minting affected the market.<\/p>\n \u201cLast time this much Tether got printed in a week a whole bank blew up,\u201d the poster noticed<\/a>, referring to banks like Silicon Valley Bank, Silvergate and Signature Bank shutting down operations in March 2023.<\/p>\n In the aftermath of the bank implosions, some industry observers alleged exposure between Tether and Signature. Tether subsequently denied such allegations, \u201cunequivocally re-iterating\u201d that it had no exposure to Silvergate, Silicon Valley Bank and Signature Bank.<\/p>\n Related: <\/em><\/strong>Tether issues $610M debt financing to Bitcoin miner Northern Data<\/em><\/strong><\/p>\n In addition to the active minting of new coins, Tether has been working to integrate a major ecosystem part recently, according to Ardoino. Tether’s CEO took to Twitter to announce that the firm is preparing to announce five new projects in 2024. \u201cCouple of these could obliterate some popular Web2 centralized services for good,\u201d he noted.<\/p>\n We’re quite close to add another extremely powerful piece of the puzzle for @Tether_to<\/a> ecosystem.<\/p>\n Total of 5 mind-blowing projects (and counting) for 2024. Pure Real World Ecosystem aka “Things\u2026<\/p>\n \u2014 Paolo Ardoino (@paoloardoino) November 12, 2023<\/a><\/p><\/blockquote>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-11\/300c77af-8616-45bb-b47b-d6f448aae63d.png\")
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Couple of these could obliterate some popular Web2 centralized services for good.<\/p>\n