Tether (USDT) Releases New Tokens Valued at $50 Million by Cryptovest

Tether, the issuer of USDT, a stablecoin pegged to the US dollar, has released 50 million new tokens as of August 11, according to data from OmniExplorer. This decision comes during a period when the majority of cryptocurrencies are stabilizing after previous declines. An inspection of the wallet address that received these coins indicates that it is owned by Bitfinex.

Both Tether and Bitfinex are run by the same management team. The addition of USDT liquidity during critical periods has raised concerns among some observers who view it as a potential tool for manipulating cryptocurrency prices.