Tether, the company that issues the USDT stable coin just printed another $300 million tether this month. The transaction can be found here.
Tether experienced harsh criticism in the past for not providing important reports showing that the organization has legitimate USD saves for the USDT available for use. But later that has been cleared. Tether backs their USDT coin by a diversified portfolio that includes also cryptocurrencies.
The project aims to build a trading platform and is supported, among others by billionaire VC fund Tim Draper.
So maybe would be safe to think that the printed tether is due to the increasing interest in bitcoin after the price action we have seen since the start of this month.
Tether also printed another $300 million USDT coin on April 23rd and two days after the bitcoin price pumped by 5% going from $5,400 to $5,650. Probably it is going to happen the same thing this time, but nobody knows because crypto markets are unpredictable. However usually very time new tether is printed, it is a flag that suggests new Fiat entering the crypto markets and prices go higher.
What are you thought about the new printed USDT? Do you think that the crypto market will go up?
Feel free to put your thoughts in the comments below.