The controversial stablecoin Tether generated $250 million worth of new USDT tokens on May 18, according to Omni Explorer.
Tether is the company that issues the so-called stablecoins USDT, which it claims are backed at 1:1 ratio by US dollars. Tether has been criticized for its lack of transparency after it broke ties with auditing firm Friedman LLP before an official audit could be conducted.
With a near monopoly on stablecoins, the total supply of Tether tokens has now risen to 2.5 bln, and some critics find it hard to believe that all of those tokens are backed by US dollars.
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