CryptoMediaClub
Sunday, July 27, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Tether authorizes $1B USDT to ‘replenish’ Tron network

19.09.2023
A A
0
122
VIEWS
ShareShare

Accounts monitoring blockchains for major mints, trades and token transfers have flagged a $1-billion authorization of Tether (USDT) in Tether’s Treasury that is set to provide near-term USDT liquidity for the Tron network.

Blockchain tracker WhaleAlert highlighted the $1-billion authorization on X (formerly Twitter), which drew a quick-fire response from Tether chief technology officer Paolo Ardoino, who said that the USDT tokens would be used as inventory to “replenish” the Tron network.

Ardoino added that the event was an authorization and not an actual issuance, with the allocated amount set to serve as inventory for upcoming issuance requests and chain swaps from the Tron network.

PSA: 1B USDt inventory replenish on Tron Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.https://t.co/Y1bqxZglgR

— Paolo Ardoino (@paoloardoino) September 19, 2023

As per Tether’s official FAQ page, “authorized but not issued” USDT is required to secure the creation and issuance process of tokens:

“By creating ‘authorized but not issued’ USDT, Tether limits the number of times Tether’s signers need to access their authorization private keys, thereby reducing their exposure to security threats.”

Authorizing USDT in the Tether Treasury allows the company to issue USDT instantaneously once customer funds are received to ensure that the issuer maintains 100% of its reserves.

As Cointelegraph previously reported, USDT tokens issued on the Tron blockchain hit all-time highs in 2023. The network accounts for $42.8 billion USDT in circulation, while the Ethereum blockchain has around $39 billion USDT circulating on-chain.

Tether’s CTO recently explained similarly significant USDT authorizations that have been flagged by blockchain trackers, with a $1-billion USDT mint to support Ethereum chain swaps taking place in June 2023.

Tether increases USDT supply in 2023. Source: CoinMarketCap

Tether has seen its market capitalization tip past $83 billion in 2023, having minted some $16 billion in USDT since January. USDT remains the leading United States dollar-pegged stablecoin by market capitalization.

In contrast, Circle’s USD Coin (USDC) stablecoin has seen its market cap decline from $50 billion at the start of 2023 to $26 billion at the time of publication.

The collapse of Silicon Valley Bank (SVB) is cited as having influenced USDC’s drop in market cap, with Circle having $3.3 billion tied up in the institution at the time of its collapse in March 2023.

Magazine: Deposit risk: What do crypto exchanges really do with your money?

Share9Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post
How big is Bitcoin in Lugano? Decentralize with Cointelegraph goes to BTC school

How big is Bitcoin in Lugano? Decentralize with Cointelegraph goes to BTC school

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Elon Musk vs. OpenAI – The ICO Credibility Conundrum

Elon Musk vs. OpenAI – The ICO Credibility Conundrum

8 months ago
Dencun Hard Fork Live on Ethereum

Dencun Hard Fork Live on Ethereum

1 year ago
Shiba Inu (SHIB) Made a Historic Move in the Crypto Market

Shiba Inu (SHIB) Made a Historic Move in the Crypto Market

2 years ago
Memecoins SHIB, BONE, and LEASH Gain Traction but Face Challenges

Memecoins SHIB, BONE, and LEASH Gain Traction but Face Challenges

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

How Little Pepe’s Layer 2 Chain Changes Meme Coin Hype, Raises $5 Million in Presale

El Salvador’s Bitcoin Strategy Faces IMF Hurdles and Limited Public Reach, Says NGO

Solana Price Prediction: Key Technical Formation Signals Major Upside Potential for SOL

Dragonfly Capital Faces Potential Charges Over Tornado Cash Ties, Vows to Fight Back

Bitcoin Price Prediction: 67% of BTC Still in Individual Hands – What Does This Say About Price Potential?

Trending

Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?
All news

Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

27.07.2025
0

Ethena (ENA) has delivered a remarkable 21% single-day performance, with trading activity spanning from a session low...

After the Passage of the Genius Act, ALL4 Mining and XRP Will Help Investors Open a New Chapter in Mining Income

After the Passage of the Genius Act, ALL4 Mining and XRP Will Help Investors Open a New Chapter in Mining Income

27.07.2025
Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

27.07.2025
Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

27.07.2025
How Little Pepe’s Layer 2 Chain Changes Meme Coin Hype, Raises $5 Million in Presale

How Little Pepe’s Layer 2 Chain Changes Meme Coin Hype, Raises $5 Million in Presale

27.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz