Tether and Circle Issue $1.75 Billion in Stablecoins After Market Downturn
According to Lookonchain, Tether and Circle have issued $6 billion in new stablecoins since the October 11 flash crash, reflecting surging liquidity demand amid heightened market volatility.
ETH
USDT
SOL
Fact Check
The statement is strongly corroborated by multiple independent crypto news sources provided in the evidence (Bitget News, MEXC News, BeInCrypto), all of which explicitly state that Tether and Circle issued approximately $1.75 billion in stablecoins following a recent market downturn. The consistency of the specific figure and context across these reports provides high confidence in the statement's accuracy.
Summary
Lookonchain data reports that following a recent 1 billion USDT mint on Ethereum, Tether and Circle have jointly issued $6 billion in new stablecoins since the October 11 flash crash. This expanded issuance underscores escalating demand for liquidity instruments in response to heightened market instability.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a reserve asset, such as the US dollar, to maintain price stability.
- USDT: Tether’s USD-pegged stablecoin used widely in crypto markets for transactions and trading.
- USDC: A USD-backed stablecoin issued by Circle, offering price stability and regulatory transparency.