Bankrupt crypto firm Alameda Research is believed to have minted around $40 billion of Tether’s USDT stablecoin, accounting for approximately 47% of its circulating supply. This analysis was conducted by Coinbase director Conor Grogan, who also noted that the amount of USDT minted exceeded Alameda’s assets under management at the peak of the crypto market. Grogan found it challenging to determine the exact amount of redemptions processed by Tether for Alameda. The revelation has sparked mixed reactions within the crypto community, particularly in light of the ongoing criminal trial of Alameda and FTX founder Sam Bankman-Fried. Tether declined to comment on Grogan’s investigation, stating that it does not disclose information about its customers’ transactions. Tether’s USDT is the leading stablecoin in the crypto market, with a market capitalization of $83.51 billion and a trading volume of $18.22 billion in the last 24 hours.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	0
People	Conor Grogan, Gary Wang, Sam Bankman-Fried
Companies	Coinbase, FTX, Tether, Alameda Research
Currencies	Tether
Securities	None