With Bitcoin (BTC) ascending sharply in the last eight hours — over $9,100 at press time — U.S. dollar-backed stablecoin Tether (USDT) is on a minting spree.
Whalebot Alerts has reported that Tether issued more than 160 million new coins in the last 24 hours in just two transactions.
A second transaction of $100 million USDT was issued just before BTC’s push past $8,500.
In just under 12 hours, 91 million tokens were transferred from unknown wallets to the two exchanges, with the bulk — $85 million over two transactions — going to Binance.
Only 22 million USDT was transferred out of the Tether Treasury.

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