Every time that Tether issues a lot of new coins, people are up in arms over what is going on exactly. In this particular case, there has been an influx of $360 million in coins, albeit it remains to be seen how they will be used exactly.
Tether’s USDT is the biggest stablecoin in the cryptocurrency today.
Another new Batch of Tether Coins
It has noted significant traction over the past few years, which doesn’t necessarily sit well with everyone either.
This week, Tether has injected another $360 million in USDT into circulation.
Under normal circumstances, all of these tokens need to be backed by actual assets and fiat currency.
Whether or not that is the case, remains subject to debate.
Many people suspect that most of the USDT isn’t backed by actual holdings, albeit that has never been proven.
That being said, every new “printing job” tends to get a lot of attention on Reddit regardless.
Some users even go as far as claiming how Tether is a complete scam currently defrauding investors.
Some very serious allegations against a company that hasn’t done anything malicious.
The bigger question is how these new tokens will impact crypto asset prices.
A hefty increase in Bitcoin’s value would certainly be welcome at this point.