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Tether mints 1 billion USDT - when will the stablecoin be regulated?



Tether has minted more than three billion USDT in the past two weeks, most recently on December 4th one billion on the TRON blockchain. There are currently around 76 billion tethers in circulation.


Tether has minted more USDT stablecoins worth $ 1 billion on the TRON blockchain, information about current transactions shows. This took place on December 4th, 2021 after many billions of USDT were created that year.


Tether continues to be criticized for the alleged lack of cash to secure the reserves. According to reports , only 2.9% of Tether's USDT supply is covered by dollars .


Tether minted USDT 3 billion in the first week of November. Most recently, the amount in circulation has increased to around 76 billion USDT. The tether offering is now more than double that of USD Coin (USDC), which is around $ 39 billion.


Concerns about USDT coverage have been around for years, both within the crypto community and among lawmakers. Tether is sticking to its own statements, but has taken steps to ensure more transparency. With stablecoins becoming one of the biggest concerns for lawmakers around the world, Tether will have to work hard to win them over.





The reserves will be an important issue when it comes to the regulation of stablecoins. It is only a matter of time. Tether has already been fined $ 41 million by the CFTC. The research platform Hindenburg Research has also published a program called the Hindenburg Tether Bounty Program . This promises a reward of up to 1 million US dollars to those who can provide details about the background and security of Tether.


Despite efforts, Tether remains in focus

The background of Tether has been viewed critically by investors for many years . It has only been in the past 12 months that the company has made tangible efforts to dispel the concerns.


Still, Tether's actions have also caught the attention of lawmakers. So wrote Sherrod Brown , chairman of the US Senate Committee on Banking, a little more than one week a message to the CEO of Tether, Jean-Louis van der Velde . Brown urged in the letter that the company should respond to concerns related to the stablecoin by December 3. In response, Tether said efforts are being made to work with lawmakers around the world to address these concerns.


Other stablecoin projects have also started to develop measures for more transparency and responsibility. The USDC publisher Circle announced in an announcement earlier this year that such steps are also planned. Circle was also summoned by the SEC, the company agreed to an unconditional cooperation.


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