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Coinbase executive: On-chain data shows Alameda responsible for minting $39.55 billion USDT

Coinbase executive Conor revealed on social media that blockchain data shows Alameda is responsible for the issuance of 39.55 billion USDT, which accounts for 47% of Tether's current circulating supply. It is reported that a previous report by Protoss estimated this number to be around 36.7 billion US dollars.

According to SBF data (which was submitted to Forbes as part of the annual world billionaire rankings), the relevant USDT issuance data is higher than Alameda's total asset management amount. Conor said that understanding redemption is quite challenging, partly because Tether seems to have a block for off-chain destruction. If it is assumed that all USDT redemptions from FTX come from Alameda instead of other market makers, they should have redeemed 3.9 billion USDT.

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