Tether, the stablecoin issuer, has authorized 1 billion USDT f | Crypto Update HQ

Tether, the stablecoin issuer, has authorized 1 billion USDT for issuance to "replenish reserves" and support token exchange across different blockchains. This is the second such tranche of this magnitude, with the first occurring in April. Tether works with third parties to balance USDT liquidity in different networks, as platforms may face situations where most USDT is in one blockchain but withdrawals need to be processed in another. The issued stablecoins remain in Tether's treasury as "authorized but not issued," and they do not count towards the token's market capitalization calculation.