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Bitcoin Drops As Tether Prints and Destroys $5 Billion in USDT – Plus Ripple and XRP, Ethereum, EOS, IOTA

 

From a burst of strange activity from Tether to new support for XRP, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin and Tether

Crypto traders are going through an emotional rollercoaster after some unusual activity from the stablecoin company Tether.

Traders were briefly elated when Tether suddenly printed a staggering 5 billion USDT.

💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 5,000,000,000 #USDT (4,996,932,524 USD) minted at Tether Treasury

Tx: https://t.co/2FzJrc3tyi

— Whale Alert (@whale_alert) July 13, 2019

Historically, when Tether mints new USDT, the price of Bitcoin goes up. Tether has been accused of using USDT to manipulate the price of Bitcoin, but Kraken CEO Jesse Powell recently said it’s…

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