Tether to Issue 250M USDT Tokens

After the new issue, the total number of issued tokens USDT reached 250 billion
21 May 2018   644

Tether conducted an additional issue, releasing 250 million new USDT tokens This is reported by CoinTelegraph.

USDT are the so-called Stable Coin (stable currency) - tokenized dollars, secured, as the company claims, by the national currency of the United States.

This is the second large USDT issue in recent months - in March the company issued 300 million coins.

After the new issue, the total number of issued tokens USDT reached 250 billion, the cryptocurrency community still doubts that all these coins are really provided with US dollars.

One of the critics of Tether is the anonymous blogger, Bitfinex'ED, who in March 2018 revealed a link between the release of new Tether coins and the rising prices for bitcoin and Ethereum. After the current release of new USDT tokens, the rate of bitcoin for an hour increased by about $ 120, and Ethereum - by $ 10.

Earlier, the Bitfinex exchange in Hong Kong, which is known to have close ties to Tether, threatened Bitfinex'ED with a lawsuit. However, since the audit of the company was not conducted, the reliability of the ratio 1 USDT to $ 1 is still not proven.

Bloomberg to Gain Access Tether Fin. Reports

Company’s accounts in the Puerto Rican Noble Bank kept $ 2.2 billion
18 December 2018   165

The Bloomberg has gained access to the financial statements of Tether Limited, the issuer of stablecoin USDT. To give an unequivocal answer, whether all USDT tokens are provided with US dollars at the moment, the publication did not work, but on January 31 this statement was true.

So, on this day, the company’s accounts in the Puerto Rican Noble Bank kept $ 2.2 billion. According to the CoinMarketCap analytical resource, at the same time, there was 2.195 billion USDT in turnover. The data also coincided in September and October 2017, according to representatives of the publication.

Note that Tether Limited managed to open an account with Noble Bank in September 2017, and the company increased its assets from zero to $ 392 million in just one month. about $ 60.9 million user funds. At least this was mentioned in the report of the auditing firm Friedman LLP, with which Tether subsequently broke off relations.

The Bloomberg report states that cash began to flow into another bank in July 2018. If at the beginning of the month, the account with Noble Bank was $ 1.9 billion, at the end - $ 210 million. Probably, the money was transferred to Deltec Bank in the Bahamas, which confirmed that Tether had $ 1.831 billion in balance on October 31, 2018 .

It is worth adding that the publication managed to match a number of transactions between the Bitfinex and Tether accounts at Noble Bank, which completely coincided with the USDT transfers.

Recall that in January, the US Commodity Futures Trading Commission (CTFC) began to study the activities of Bitfinex and Tether, sending summons to the representatives of both organizations to the court. After that, Tether suspended the issue of USDT tokens for two months.

In November, the US Department of Justice launched its own investigation to check whether bitcoin price manipulation took place at the expense of the USDT issue.