The operator of leading stablecoin USDT, Tether, minted 300 million USDT in a swap from the Bitcoin-based (BTC) tokenization protocol Omni to Ethereum, but the corresponding burn has not yet taken place.
Whale Alert, a twitter account dedicated to reporting big cryptocurrency transactions, pointed out the coinage described above in a tweet published on Sept. 12. In a second tweet submitted as an answer to the first one, Whale Alert gave an explanation of the nature of the transaction:
Blockchain swap seemingly confirmed
Tether confirms this explanation in a tweet submitted from its official account the day before. The company announced a 300 million USDT swap from the Omni protocol to the Ethereum blockchain:
Still, as previously mentioned, no token burn on the Omni blockchain has taken place as of yet. In July, Tether accidentally minted and subsequently burned 5 billion USDT tokens.