Tether Ltd printed a total of USDT 300 million Wednesday and this brought the total coins created to 540 million in the last three days alone.

The latest USDT printing will see the top stablecoin’s market capitalization significantly passing the $10 billion mark.

Responding to a whale alert twitter post, however, Paolo Ardoino the CTO at Bitfinex, explains that the latest printing is for purposes of replenishing inventory on the Tron Network.

“Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests,” says Ardoino.

Ardoino’s response, which came right after the alert, was immediately ridiculed by some twitter users. Others sarcastically urged Ardoino on.

Tether Prints $300 Million, While XRP Reclaims Third Spot

One Twitter user going by the handle lentejitaB asks, “Paolo is this the biggest tether mint in all Tether history?”

Still, another user, Crypto Favs, compares Tether Ltd with the US Federal Reserve, which has also been printing money. Such US Federal Reserve actions are being blamed for fueling…

Click to continue reading on its source location…

Source: https://news.bitcoin.com/tether-prints-300-million-while-xrp-reclaims-third-spot/