Tether CTO clarifies $1B USDT mint on Ethereum is for chain swaps By Cointelegraph

minted a fresh batch of $1 billion worth of its Tether (USDT) stablecoin on the blockchain on June 12. The latest billion-dollar mint for the stablecoin issuer comes within two months of its last mint on April 21.

Tether’s chief technology officer Paolo Ardoino took to Twitter to clarify that the latest USDT mint is part of what the firm calls an “inventory replenish” on the Ethereum network. The latest issuance, however, won’t impact the overall market cap of USDT since the latest minting is an “authorized but not issued transaction.” According to Ardoino, the latest minted amount will be used as inventory for the next period of issuance requests and chain swaps.