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Tether Mints Another Billion Dollars, Because Who Needs Economic Responsibility When You Can Just Magically Create More Money on the Internet and Call It Stable?

AltcoinsBitcoinCrypto News 3 Doug Martinez August 20, 2024

An illustration of a giant money tree growing on an island surrounded by stormy seas and dark clouds; its roots are tangled around a Tron logo while USDT tokens spill out from cracks in the trunk like water overflowing from broken pipes; nearby, Tether's CEO Paolo Ardoino is shown holding a watering can pouring more coins into the tree. In the background, an Ethereum network symbol appears as a faint outline of another money tree struggling to grow amidst withering leaves and dry branches.

August has been quite a month for Tether’s minting machine – it seems like every week they’re churning out another billion USDT tokens on some obscure blockchain or other (in this case, Tron). I mean, who needs financial stability when you can just print more money? The total amount of stablecoins minted in the last year is a staggering $33 billion. That’s either a lot of demand for Tether…or a desperate attempt to prop up their own failing business model.

Source: cointelegraph

Tether mints another $1B USDT on Tron network
https://cointelegraph.com/news/tether-mints-1-billion-usdt-tron-33-billion-year
Stablecoin issuer Tether has minted another 1 billion USDT tokens on the Tron network, bringing the total USDT minted in the last year to $33 billion.  On Aug. 20, blockchain data showed that Tether minted $1 billion of its Tether (USDT) tokens on the Tron network and sent them to its treasury wallet. According to the onchain analytics platform Lookonchain, the “Tether Treasury” wallet minted $33 billion in stablecoin tokens […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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