On June 12, #Tether issued a new batch of its Tether #stablecoin on the #Ethereum blockchain, valued at $1 billion. The stablecoin issuer's most recent mint of $1 billion took place within two months after its previous mint on April 21.

Paolo Ardoino, the chief technology officer at Tether, explained on #Twitter that the most recent USDT mint is a part of what the company refers to as a "inventory replenish" on the Ethereum network. However, because the most recent minting is a "authorised but not issued transaction," it won't have an effect on the #USDT market cap as a whole. The most recent quantity will serve as inventory for the upcoming round of issue requests and chain swaps, according to Ardoino.