Following the big crypto money transfer transactions, Twitter account Whale Alert informed the crypto money users by reporting that a huge amount of USDT has been transferred. The Twitter bot has detected that 100 million Tether stablecoins have been transferred from the Tether Treasury.
100 Million USDT
When the community started posting comments accusing Tether of concern that another USDT-induced collapse might occur, Tether’s CTO, Paolo Arduino, made a statement to address the community’s concerns.
💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 100,000,000 #USDT (99,624,696 USD) minted at Tether Treasury
— Whale Alert (@whale_alert) June 13, 2020
Paolo Arduino said that the newly printed 100 million USDT was for an inventory renewal on the Tron Blockchain. Tether expanded to the Tron chain in April 2019 and launched the USDT-Tron stablecoin.
However, users are skeptical of Ardoino’s statements and compare the quantitative expansion currently being implemented by the Federal Reserve for the constant press of new USDTs. Prior to that, Whale Alert reported that 20 million Tether were sent from the Tether Treasure to the Huobi stock exchange.