Tether Issues $250 Million Tokens – Leads to Small BTC Increase

Tether Generates $250 Million Worth of USDT

Tether, the US based stablecoin, has issued 250 million tokens today according to data from Omni Explorer on June 25.

The stablecoin had also released 300 million tokens back in March. This inevitably led to a small price increase within the Bitcoin market. The release was met a backlash from critics on twitter due to Tether’s lack of an official audit.

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However, Tether made recent headlines as they released a statement from a law firm back on June 1 claiming that Tether had the appropriate amount of US dollars which backed up Tether tokens. This was not an official audit, however claims from the law firm state that audits from several large accounting firms were denied.

At the time of this release, Bitcoin is up 6% over the last 24 hours. Charlie Lee, the founder of Litecoin tweeted today that the release of tokens does not necessarily preclude an immediate price jump. However, past token releases have undeniably increasef Bitcoin’s value on many other occurrences.

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