Tether Mints 2 Billion USDT On Tron As Bitcoin Climbs Above $100K

Barely a week after minting 1 billion USDT, Tether has announced the minting of 2 billion USDT on the Tron blockchain. While the new mint has sent tongues wagging, Tether says the mint forms part of a routine operational procedure and is not a reaction to the recent geopolitical crisis as Bitcoin reclaims $100K.

Tether Treasury Turns To Tron To Mint 2 Billion USDT

Stablecoin issuer Tether has created new USDT tokens on the Tron blockchain, building on a red-hot minting streak. According to an X post by Whale Alert, Tether minted the 2 billion USDT in two separate transactions, minting 1 billion each within minutes.

Tether CEO Paolo Ardoino revealed that the stablecoin issuer will store the 2 billion USDT for future utility rather than putting them in circulation. Ardoino clarified that Tether authorized the mint, and tokens will be in inventory until they are ready for deployment.

“Note 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,” said Ardoino.

Despite the fact that the new USDT will not make its way to the markets, traders are interpreting the move as “ammo-loading” ahead of incoming market moves. Previously, Tether minted 1 billion USDT with a significant chunk transferred to Bitfinex, a Tether-affiliated exchange.

The move appears to be operational rather than reactive to the recent crypto market crash, which saw Bitcoin fall below $100K.

Bitcoin Price Clinches 100K Again

Reports of Tether minting USDT have sent Bitcoin price trading above $100K again. Bitcoin price slipped below $100K amid fears of an Iranian retaliation on US soil, after trading above the mark for over a month.

At press time, Bitcoin is trading at $100,900, recouping a measure of its losses over the last day. Other altcoins are picking their way up after a rout that saw over $1.1 billion liquidated in the crypto market.

Historically, Tether’s USDT mints have always preceded a rally, as it signals the inflow of fiat into the cryptoverse. The movement of the minted USDT to exchanges and OTC desks often suggests incoming Bitcoin purchases by institutional buyers. Tether’s USDT mints have spiked since the passage of the GENIUS Act, with RLUSD and Circle creating new tokens on the back of new stablecoin regulation.