Uncovering Tether's Billion-Dollar Issuances

Whale Alert reported the issuance of another billion USDT, and I noticed that these tokens are frequently issued in batches of exactly one billion.

According to Tether’s rules, token issuance involves the following: “Select the network protocol, provide the wallet address to receive the Tether tokens, and specify the total fiat amount to be wired to Tether. Choose the tokens to receive and the bank account for the transfer.” Tether charges a 0.1% fee for this process.

This means users issuing tokens often send exactly $1,001,001,001 to Tether. The consistency of this pattern strongly suggests that the same entity is responsible for these transactions.

On Etherscan, you can find 49 transactions, each issuing precisely one billion USDT. If so, one individual has wired $49 billion to Tether.

All people and entities with a legitimate net worth capable of such transfers are publicly known. If someone like that was behind this, we’d likely know about it by now.

So, who regularly wires over a billion dollars to Tether? Where are these dollars coming from - or do they even exist?

This only deepens my doubts about USDT’s reliability. If you feel the same, you can easily exchange USDT for any other crypto asset at rabbit.io. 🐰