As revealed by Whale Alert, the website that keeps a close eye on huge crypto transactions, Tether minted a whopping $300 mln worth of USDT. The tweet provoked a knee-jerk suggestion that the Bitcoin price would inevitably pump with freshly injected USDT.
There is a pervasive conspiracy theory that Tether prints might be responsible for pushing the price of Bitcoin, and many suspected that this $300 mln mint could send the BTC price through the roof.
However, later, Whale Alert clarified that the latest issuance was simply a chain swap (from Omnichain to Ethereum ERC-20).
Tether, the flagship stablecoin issuer, now uses relies on different platforms, such as Tron and EOS. Bloomberg reported that it could move to more obscure Blockchains in order to obfuscate its transactions.