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Tether Mints 300M USDT in Chain Swap, Corresponding Burn Still Awaits

Published 09/12/2019, 02:59 PM
Updated 09/12/2019, 03:21 PM
Tether Mints 300M USDT in Chain Swap, Corresponding Burn Still Awaits
ETH/USD
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The operator of leading stablecoin USDT, Tether, minted 300 million USDT in a swap from the Bitcoin-based (BTC) tokenization protocol Omni to Ethereum, but the corresponding burn has not yet taken place.

Whale Alert, a twitter account dedicated to reporting big cryptocurrency transactions, pointed out the coinage described above in a tweet published on Sept. 12. In a second tweet submitted as an answer to the first one, Whale Alert gave an explanation of the nature of the transaction:

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