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Coinbase Director: Alameda Once Minted 39.55 Billion USDT, Accounting for 47% of the Current Circulating Supply

October 10th, Coinbase executive Conor Grogan stated on social media that on-chain data shows Alameda has minted 39.55 billion USDT, which accounts for 47% of the current circulating supply of USDT. A previous report by Protoss estimated this number to be around 36.7 billion US dollars, but Conor Grogan updated the data with the discovery of additional wallets.

Data provided by SBF shows that the amount of USDT minted by Alameda exceeds its asset management scale during the peak of the cryptocurrency market. However, obtaining information about redemptions is challenging, in part because Tether appears to coordinate its off-chain destruction work.

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