Tether Treasury founds 1 billion USDTs in the wave field

It is reported that the data on the chain shows that Tether Treasury cast 1 billion USDTs in the wave field at 16:46 UTC on February 22, with the trading address of TBPxhVAsuzoFnKyXtc1o2UySEydPHgATto and the trading hash of 736b90dbaecef982834ad68074cdb674d8efe14aab1998d7ef79b208ef9313d9.

Interpretation of this information:

The message reports that Tether Treasury, a popular cryptocurrency exchange, has cast 1 billion USDTs (United States Dollar Tethers) in the wave field. The transaction date is mentioned as 22nd February 2021 and the time mentioned is 16:46 UTC. The trading address is given as TBPxhVAsuzoFnKyXtc1o2UySEydPHgATto, and the trading hash is 736b90dbaecef982834ad68074cdb674d8efe14aab1998d7ef79b208ef9313d9.

For cryptocurrency enthusiasts, this information can be crucial in terms of tracking the flow of USDTs in the market, often used as a substitute for the US Dollar in cryptocurrency trading. Tether, the company behind USDT, is known for having a controversial reputation due to their dubious reserves policies, constant regulatory scrutiny, and alleged ties with Bitfinex, another popular cryptocurrency exchange that has been under investigation for market manipulation.

The timing and the trading address being stated in the message indicates that the transaction was done under Tether’s directive, and the purpose could be anything ranging from boosting trading liquidity to providing capital to their partner exchanges. The mention of the trading hash suggests that independent nodes on the blockchain network have verified the transaction, making it legitimate.

It is worth noting that such transactions are not an unusual occurrence in the cryptocurrency market, and data on similar transactions is available publicly for those interested.