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#HotTopicDiscussion Tether CEO Paolo Ardoino said a recent massive mint at the company’s treasury was intended for inventory purposes, while crypto proponents surmised a bullish thesis due to whale activity with USDT.

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Tether whale received $1.1b USDT since October, buoying bullish speculation

By Naga Avan-Nomayo
November 22, 2023 at 4:29 pm

Edited by Brian Stone
NEWS

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Tether CEO Paolo Ardoino said a recent massive mint at the company’s treasury was intended for inventory purposes, while crypto proponents surmised a bullish thesis due to whale activity with USDT.

Whale Alert pointed to $1 billion USDT minted at Tether’s treasury on Nov. 22, propelling chatter among proponents around inflows to cryptocurrencies and rallying token prices as part of an upcoming bull run.
Responding to the news, Ardoino stated that the transaction was earmarked to support USDT liquidity on Tron’s blockchain. Ardoino noted that the amount would be designated for future issuance requests on Justin Sun’s decentralized network.