Tether Treasury Continues Its Printing Spree, Issues $240M in Under 3 Days

iloveturtles

newbie

Activity: 195

Merit: 0

Quote from: beetlejam on March 20, 2020, 07:04:49 PM

The Tether Treasury has minted yet another 60,000,000 USDT, which it said is for an “inventory replenish.” Tether Treasury has continued its printing spree with another fresh 60,000,000 USDT set to enter markets shortly. Tether Treasury has printed three batches of $60M USDT in just the past two days. Today, it has continued with yet another $60M USDT set to enter markets shortly.

What do you think about this? and how do you think this will impact the market? If you want to read the full article where I got the information from, you can read it on the link below.

https://beincrypto.com/tether-treasury-continues-its-printing-spree-issues-240m-in-under-3-days/

I saw that Tether reached over 6 billion yesterday, which is insane. I am personally not a fan of Tether.

beetlejam

full member

Activity: 226

Merit: 100

Quote from: Febo on March 20, 2020, 07:40:26 PM

Oh you are bothering with $240 millions that tether printed for USD that they put in bank?

Why dont you bother about this

$1.5T in Repo
$1.1T Commercial paper relief
$1T in US fiscal stimulus
$750B QE from ECB
$600B QE from the Fed
$600B bank loan guarantee (France/UK)
$500B in loans (Germany)
$300B in Japanese stimulus (proposed)
$100B in fiscal stimulus across Europe

=== $64.000.000 millions

Do you know how many times $240 m is that?

I wouldn't compare other industries and countries as they are much bigger markets overall aren't they? 240 million in 3 days is a large amount in the crypto market, especially from one project.

Why don't i just compare the economy of the USA to Tether? I am more interested in people's idea on how this impacts the crypto market, not the global market or the economy of Germany...

Goodvalony

member

Activity: 616

Merit: 16

what is the essence of this printing? it looks like the same process done by the world economy to boost fiat money usage. i was wondering what and where will these money go to. i think most investors will borrow from tether but then what happens when all these money disappeared back to the hands of whales. the current pandamic crises could be the main reason but should they go about printing money whenever there is crises.

Febo

legendary

Activity: 2744

Merit: 1288

Quote from: Gudubobo on March 21, 2020, 02:30:23 AM

Quote from: Python Master on March 20, 2020, 08:55:08 PM

Quote from: Febo on March 20, 2020, 07:40:26 PM

Oh you are bothering with $240 millions that tether printed for USD that they put in bank?

Why dont you bother about this

$1.5T in Repo
$1.1T Commercial paper relief
$1T in US fiscal stimulus
$750B QE from ECB
$600B QE from the Fed
$600B bank loan guarantee (France/UK)
$500B in loans (Germany)
$300B in Japanese stimulus (proposed)
$100B in fiscal stimulus across Europe

=== $64.000.000 millions

Do you know how many times $240 m is that?

it's ridiculous to compare Tether with national currency and monetary policy of a country.

I wonder at that. Tether has nothing to do with country currencies, completely different. I think the treasury wants to make available more USDT because of the crisis and the fact that people seem to be converting their crypto coins to USDT more these past days.

Tether is USD. Every time USD gets printed it inflate tether. When one loaf of bread will cost 1000 USD it will also cost 1000 tether.

Gudubobo

jr. member

Activity: 41

Merit: 1

Quote from: Python Master on March 20, 2020, 08:55:08 PM

Quote from: Febo on March 20, 2020, 07:40:26 PM

Oh you are bothering with $240 millions that tether printed for USD that they put in bank?

Why dont you bother about this

$1.5T in Repo
$1.1T Commercial paper relief
$1T in US fiscal stimulus
$750B QE from ECB
$600B QE from the Fed
$600B bank loan guarantee (France/UK)
$500B in loans (Germany)
$300B in Japanese stimulus (proposed)
$100B in fiscal stimulus across Europe

=== $64.000.000 millions

Do you know how many times $240 m is that?

it's ridiculous to compare Tether with national currency and monetary policy of a country.

I wonder at that. Tether has nothing to do with country currencies, completely different. I think the treasury wants to make available more USDT because of the crisis and the fact that people seem to be converting their crypto coins to USDT more these past days.

bgaf

sr. member

Activity: 644

Merit: 257

Worldwide Payments Accepted in Seconds!

Thats not good on the part of USDT. It seems like someone or group wants to buy bitcoin and have some deals with USDT to create some for them. Im thinking some people are dealing under the table here. I saw the tweet yesterday, and it seems their reason isnt valid to issue this minted USDT worth 60m. The CEO speaks about it and his rationale isnt backed up by good reasoning. If only USDT can be turn down, I will push this. They are doing some nasty tactics here.

okala

full member

Activity: 980

Merit: 115

Many altcoins are being converted to usdt, usdc, busd and pax. I think the covid19 is the major reason why their are trying to cover the lump hole. Maybe this might create more dump in price as I keep seeing more stable coins been minted and printed daily.

itsv

full member

Activity: 532

Merit: 100

Banks are very good at creating illusions of currency value. For instance they can have lot’s of debts that are unpaid from lending money. The banks then sell those debts for real money to debt collection agencies. In the end the Banks make money from imaginary money and sell it for real money.

Python Master

copper member

Activity: 406

Merit: 1

Quote from: Febo on March 20, 2020, 07:40:26 PM

Oh you are bothering with $240 millions that tether printed for USD that they put in bank?

Why dont you bother about this

$1.5T in Repo
$1.1T Commercial paper relief
$1T in US fiscal stimulus
$750B QE from ECB
$600B QE from the Fed
$600B bank loan guarantee (France/UK)
$500B in loans (Germany)
$300B in Japanese stimulus (proposed)
$100B in fiscal stimulus across Europe

=== $64.000.000 millions

Do you know how many times $240 m is that?

it's ridiculous to compare Tether with national currency and monetary policy of a country.

akram143

full member

Activity: 1106

Merit: 166

★777Coin.com★ Fun BTC Casino!

They are taking the advantage from people converting their cryptos into coins with stable values a lot in the recent days due to this corona price fall and economic crisis.This may not bring any changes in the crypto market in near future but when condition becomes normal and people wanted to buy back their cryptos may face liquidity issue?

Febo

legendary

Activity: 2744

Merit: 1288

Oh you are bothering with $240 millions that tether printed for USD that they put in bank?

Why dont you bother about this

$1.5T in Repo
$1.1T Commercial paper relief
$1T in US fiscal stimulus
$750B QE from ECB
$600B QE from the Fed
$600B bank loan guarantee (France/UK)
$500B in loans (Germany)
$300B in Japanese stimulus (proposed)
$100B in fiscal stimulus across Europe

=== $64.000.000 millions

Do you know how many times $240 m is that?

beetlejam

full member

Activity: 226

Merit: 100

The Tether Treasury has minted yet another 60,000,000 USDT, which it said is for an “inventory replenish.” Tether Treasury has continued its printing spree with another fresh 60,000,000 USDT set to enter markets shortly. Tether Treasury has printed three batches of $60M USDT in just the past two days. Today, it has continued with yet another $60M USDT set to enter markets shortly.

What do you think about this? and how do you think this will impact the market? If you want to read the full article where I got the information from, you can read it on the link below.

https://beincrypto.com/tether-treasury-continues-its-printing-spree-issues-240m-in-under-3-days/

Topic: Tether Treasury Continues Its Printing Spree, Issues $240M in Under 3 Days (Read 154 times)