The operator of leading stablecoin USDT, Tether, minted 300 million USDT in a swap from the Bitcoin-based tokenization protocol Omni to Ethereum, but the corresponding burn has not yet taken place.
Whale Alert, a twitter account dedicated to reporting big cryptocurrency transactions, pointed out the coinage described above in a tweet published on Sept. 12.
"This USDT mint is part of a swap. The corresponding burn on Omni has not taken place yet."
Blockchain swap seemingly confirmedTether confirms this explanation in a tweet submitted from its official account the day before.
"In few hours Tether will coordinate with a 3rd party to perform a chain swap for 300M USDt. Tether total supply will not change during this process."
Still, as previously mentioned, no token burn on the Omni blockchain has taken place as of yet.
In July, Tether accidentally minted and subsequently burned 5 billion USDT tokens.
As Cointelegraph reported in May of last year, Tether has been subject to controversy due to lack of transparency and allegations of market manipulation.
Tether Mints 300M USDT in Chain Swap, Corresponding Burn Still Awaits
Publicado en Sep 12, 2019
by Cointele | Publicado en Coinage
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