Controversial Tether Releases $250 Mln in USDT, Twitter Awaits Bitcoin Price Jump

Stablecoin Tether (USDT), which is allegedly backed 1:1 by the US dollar, has issued 250 million more tokens today, June 25, according to data from Omni Explorer.

At the end of March, Tether had released 300 million tokens, leading to a small price increase for Bitcoin (BTC). The move also was met with backlash from critics on Twitter about the controversy surrounding the stablecoin’s lack of an official public audit to confirm the legitimacy of its claims to be backed by fiat.
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