Stablecoin juggernaut Tether has been on a minting spree, creating a whopping $8 billion worth of its flagship USDT in just the last 25 days. This surge in USDT creation has been revealed through on-chain data analysis by Arkham data, with Spot On Chain reporting a recent minting of $1 billion in USDT on the Ethereum network.
Over the course of the last month, Tether has generated a total of $6 billion on Ethereum and an additional $2 billion on the Tron network. This significant increase in USDT supply coincides with the recent bull runs seen in Bitcoin and other cryptocurrencies.
The market cap of USDT, currently the largest stablecoin in circulation, reached a new all-time high of $163.6 billion over the weekend. Tether’s gold-pegged stablecoin, XAUT, has also seen a surge in demand, particularly from central banks seeking exposure to the precious metal.
As Tether’s profits from its expanding stablecoin empire grow, the company has diversified its investment portfolio to include a range of companies across different sectors. These ventures include investments in Rumble, a video sharing platform, BlackRock Neurotech, a brain-to-interface medical equipment company, Crystal Intelligence, a blockchain intelligence firm, Twenty One, a Bitcoin treasury company, and Juventus, a prominent European soccer club.
Tether Ventures has outlined its mission to support projects that promote decentralization and individual sovereignty across various industries such as payment infrastructure, renewable energy, Bitcoin, agriculture, artificial intelligence, and tokenization. By strategically investing in these sectors, Tether aims to drive positive change and shape a more resilient and equitable world.
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(Image Source: Midjourney)