Tether to Issue 250M USDT Tokens

After the new issue, the total number of issued tokens USDT reached 250 billion
21 May 2018   1200

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.

Tether to Transfer 15M USDT to Liquid Network

It should be noted Liquid allows you to hide values ​​in the public registry using the "confidential transaction" protocol
09 January 2020   185

On January 7, Tether, the stablecoin issuer, transferred 15 million USDT from its reserves on the Ethereum blockchain to Blockstream's Liquid network, which is a federated bitcoin sidechain. The technical feasibility of such a swap was first announced in July 2019.

An important difference between Liquid and other blockchains is the support of assets that allow you to hide values ​​in the public registry using the "confidential transaction" protocol. By transferring Tether between exchange accounts through Liquid, traders will be able to avoid disclosing information about their intentions to other market participants.

Movements of tether can be tracked in general but also particularly to and from exchanges, which is valuable information. People absolutely trade based on this information. Moving from a blockchain that has transparent transactions and onto Liquid is somewhat of a no-brainer in the context of trading.

 

Grubles

Pseudonymous Blockstream community manager

 Blockstream CSO Samson Mow noted that Liquid-based Tether could be the first example of a semi-private stablecoin.

Services like Whale Alert, that track movements of assets, would not work for confidential assets in Liquid. With Confidential Transactions you can’t see the amounts being sent from one party to another. That means that USDT issued in the Liquid Network provides better privacy than USDT on other chains.

 

Samson Mow

Blockstream CSO

At the same time, the Tether emission in the Blockstream system remains public, which can help dispel skeptics' doubts.

According to Tether Technical Director Paolo Ardoino, customer interest in confidential transactions led the company to decide to transfer $ 15 million from the Ethereum network to Liquid.