Tether Mints 1 Billion New USDT Amidst Market Fluctuations

Coin WorldSunday, Mar 2, 2025 6:51 am ET

1min read

Tether, the issuer of the world's largest stablecoin, USDT, has minted 1 billion new tokens on the Ethereum blockchain. This significant event comes amidst a series of recent developments in the cryptocurrency market.

In a coordinated effort, Tether and Circle, the issuer of USDC, have jointly frozen at least five addresses linked to the recent Bybit hack, intercepting approximately $760,000 in funds. This action demonstrates the industry's commitment to combating illicit activities and protecting users.

Meanwhile, a large investor, or "whale," has withdrawn 2,100 Bitcoin from Binance over the past 24 hours, valued at around $180.17 million at the time of the transaction. This move suggests a significant shift in the whale's investment strategy or a potential market signal.

In another notable development, a whale dumped 53.17 billion PEPE tokens that had been hoarded since October 2022, resulting in a loss of approximately $7.02 million. This action could indicate a change in the whale's sentiment towards the PEPE token or a strategic move to capitalize on market fluctuations.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.