Tether Minting Spree Sparks Concerns Amidst Whale Activity Surge

Recent activity on Tether’s blockchain paints a concerning picture. The stablecoin issuer minted over $3 billion worth of USDT in just two days, primarily on Ethereum and Tron. These significant minting actions have drawn the attention of regulators as high-risk wallets accumulated vast sums of stablecoins, exceeding $649 billion this year alone. This coincides with concerns about illicit flows of funds through these blockchains, which are frequently targeted by criminals.