Tether is the largest stablecoin provider in the crypto world and is currently in the news for its incredible minting of USD-based stablecoin USDT.

Minting out of thin air?

     Today, Tether again created one billion USDT tokens, this time on the Tron network. In the past 92 days, Tether has generated 13 billion USDT tokens through mining, which is carried out on the Ethereum and Tron blockchains. Many questions are being raised because there is a lack of transparency on this issue.

Mysterious Market Cap

     With a market capitalization of nearly $96 billion, USDT has a larger market cap than all other stablecoins combined, including USDC (26 billion), DAI (5 billion), FDUSD (2.58 billion), TUSD (1.6 billion), etc. Analysts are undoubtedly surprised by USDT's domination in the stablecoin market, but nobody figures out the mystery of its dominating market cap.

Reserve of , for and by

     No one knows the source of USDT's reserves, but the source of the reserves of many other cryptos (especially shitcoins) is definitely USDT. The USDT is also used as a source of stability for other stablecoins. It is so complex that many analysts consider it a Ponzi or a reserve for Ponzis that will not stay stable.