Stablecoin is being minted by the bookies at an unprecedented rate 🤑🤑🤑🤑

- More than 502M $USDC has been minted by Circle yesterday.

- Additionally, there are reports that Tether has minted 2 billion USDT.

However, the CEO of Tether clarified that this is a chain swap action for customers, no new USDT has been printed:

- Swapped 1 billion USDT from TRC20 to ETH

- Swapped 600 million USDT from AVAX (C) to ETH

- Swapped 300 million USDT from NEAR to ETH

- Swapped 75 million USDT from CELO to ETH

- Swapped 60 million USDT from EOS to ETH

- I checked on-chain and it is indeed true, and later Tether even burned 1B USDT.

People don't need to fomo too much at this stage.