🪙Tether mints $1 billion USDT on Ethereum amid ETF anticipation
Stablecoin issuer Tether minted $1 billion USDT tokens on the Ethereum blockchain, capitalizing on a market upswing driven by hopes that the US Securities and Exchange Commission (SEC) might approve a spot ETH ETF for trading this week. Market analysts suggested that Tether’s new minting is a strategic move ahead of a potential market rally triggered by an ETH ETF approval. Ivan Sherbakov, CEO of Cryptorobotics, said this minting “will be used as liquidity to pump the market ahead of ETF news.”
🪙Tether mints $1 billion USDT on Ethereum amid ETF anticipation
Stablecoin issuer Tether minted $1 billion USDT tokens on the Ethereum blockchain, capitalizing on a market upswing driven by hopes that the US Securities and Exchange Commission (SEC) might approve a spot ETH ETF for trading this week. Market analysts suggested that Tether’s new minting is a strategic move ahead of a potential market rally triggered by an ETH ETF approval. Ivan Sherbakov, CEO of Cryptorobotics, said this minting “will be used as liquidity to pump the market ahead of ETF news.”
A leaked Telegram discussion by 50 so-called crypto influencers has exposed the extraordinary steps they take in order to profit on the back off unsuspecting defi investors. According to a leaked screenshot of the chat, an elaborate plan to defraud defi investors using the worthless “$Few” tokens had been hatched. $Few tokens would be airdropped to some of the influencers who in turn promoted these to unsuspecting followers on Twitter.
How Does Bitcoin Mining Work?
Bitcoin mining is the process of adding new transactions to the Bitcoin blockchain. It’s a tough job. People who choose to mine Bitcoin use a process called proof of work, deploying computers in a race to solve mathematical puzzles that verify transactions.To entice miners to keep racing to solve the puzzles and support the overall system, the Bitcoin code rewards miners with new Bitcoins. “This is how new coins are created” and new transactions are added to the blockchain, says Okoro.
