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Tether’s Recent USDT Minting and Transfer to Bastion Trading

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Tethers Recent USDT Minting and Transfer to Bastion Trading

According to reports, according to Lookonchain monitoring, in the past two days, Tether has minted 3 billion USDTs on Tron and Ethereum. Among them, the address Theskycomber.eth related to Bastion Trading has received 135.3 million USDTs from Tether’s treasury in the past two days and transferred them to Coin Security.

After receiving 135.3 million USDTs from relevant addresses of Bastion Trading, all of them were transferred to Binance

Analysis based on this information:


Tether, a stablecoin pegged to the US dollar, has recently minted 3 billion USDTs on the Tron and Ethereum networks, according to reports from Lookonchain monitoring. This move by Tether has raised eyebrows in the crypto community, as it has been speculated that Tether’s USDT is not backed by actual US dollars, as the company has claimed in the past.

One address that has received a significant amount of USDT in the past two days is Theskycomber.eth, which is related to Bastion Trading. Bastion Trading is a Hong Kong-based crypto trading firm that is known for its high trading volume and for being a major shareholder of Bitfinex, a crypto exchange that has been accused of colluding with Tether to manipulate the price of Bitcoin.

The fact that Theskycomber.eth has received 135.3 million USDTs from Tether’s treasury in the past two days and transferred them to Coin Security, another Hong Kong-based crypto exchange, has fueled speculation that this move by Tether is part of a larger effort to manipulate the price of Bitcoin and other cryptocurrencies. However, it should be noted that there is no concrete evidence to support these allegations.

Regardless of the speculation surrounding Tether’s USDT minting and transfer to Bastion Trading, it is clear that this move has significant implications for the crypto market. Tether is the most widely used stablecoin in the industry and has been criticized for its lack of transparency and accountability. The sudden minting of 3 billion USDTs raises concerns about the company’s solvency and ability to maintain its peg to the US dollar.

Furthermore, the fact that a major player in the crypto market like Bastion Trading is involved in this transaction only adds to the scrutiny. As regulatory authorities around the world continue to crack down on crypto-related fraud and manipulation, transactions like this will undoubtedly come under increased scrutiny.

In conclusion, Tether’s recent USDT minting and transfer to Bastion Trading is a highly significant event in the crypto industry. While the implications of this move are still unclear, it is clear that it has raised concerns about Tether’s solvency and transparency, as well as the potential for market manipulation. As regulatory authorities continue to increase their scrutiny of the industry, transactions like this will undoubtedly face increased scrutiny as well.

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