Tether Prints $60 Million – Trustnodes

Tether Prints $60 Million

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Tether prints $60 million, Feb 2020

A freshly minted $60 million has just gotten out of the Tether presses hot out of the oven with it now put aside to cool down a bit.

“This is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests,” says Paolo Ardoino, CTO at Tether/Bitfinex.

That translates to something like: all the printed tokens that were cooling down have now been taken so we printing some hot new ones.

Tether stats, Feb 2020
Tether stats, Feb 2020

There’s now close to $5 billion tether tokens with the above stats quite a bit unique because there seem to be a lot of minuses.

Some $40 million has apparently been authorized on the bitcoin based Omni layer, but has not yet been sent to the owner.

While $10 million has likewise not been sent yet on the ethereum blockchain, suggesting there has been more demand than they could keep up.

Interestingly there isn’t much difference here from the last time we looked, except another $100 million has been printed since December with it unclear whether the stats page has updated to include the fresh new $60 million.

Making this the biggest tokenized dollar coin and now they’re going into gold too.

“The XAUt token can be transferred to any on-chain address from the purchasers’ Tether wallet where it is issued after purchase. Specific gold bar(s) will be associated with each on-chain address where Tether Gold is held,” they say.

It runs on ethereum, with some $25 million worth of close to 16,000 XAUt tokens issued so far.

So you can now hold gold, but this is a very centralized design so you have to pray their vaults are not seized.

Copyrights Trustnodes.com

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