The 5 Billion USDT Mistake and How Tether Recovered From It

Tether, the company behind the issuance of USDT tokens, has issued a total of 4 billion in a single day – more than the cryptocurrency’s current circulating supply – in what was seemingly a mistake.

The company’s move was first spotted by the Whale Alert Twitter bot, which tracks large transactions on the blockchains of top cryptocurrencies. The transaction that saw the company mint 5 billion USDT tokens caused a stir in the cryptocurrency community.

This, as there are currently over 3.9 billion USDT tokens, and an additional 5 billion being printed at once would get the token close to the $10 billion market cap. Moreover, some critics believe USDT tokens are used to manipulate cryptocurrency…

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