Bot broken? 'Tether prints 3.1 billion USDT' confuses crypto community

08 Apr, 2019 | Updated: 08 Apr, 2019
by Jelmer van der Dussen
Bot broken? 'Tether prints 3.1 billion USDT' confuses crypto community

The cryptocurrency community, and with it probably a lot of trading bots, has been taken by surprise on Monday with reports that Tether printed 3.1 billion (!) USDT, which would raise the circulating supply from just over $2 billion to more than $5 billion. The confusion seems to be caused by a series of tweets by what looks like a broken bot, the FOMO Bot. 

@BotFomo is a Twitter account that automatically sends out a tweet as soon as new USDT is printed. This morning, a series of tweets confused the crypto community. At first, 20 tweets were sent out stating - each time - that over 19 million USDT was issued. 54 tweets saying that 49,947,523 USDT were printed followed. When the FOMO Bot stopped tweeting, the total USDT 'issued' was close to $3.1 billion. 

At first the crypto community was shocked by the amount of Tether that was issued. 

Then it became more clear the bot was having some major issues.

Could the broken FOMO Bot even have caused the sudden drop of 27% in Bitcoin shorts today?

Read more: Bitcoin shorts suddenly drop 27%... to the lowest point this year

So far it seems no new USDT has been issued, However, according to Twitter account @eurtprinter there was a transaction of 20 million USDT going back into the Tether reserve.

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Add a comment

that must be some kind of technical error. all in all i can say that tether is reliable trustworthy stablecoin, dominant one
08 Apr, 2019 - 16:25
I do agree with you. Tether is transpatent first of all and it is the most important thing as for me
09 Apr, 2019 - 08:12
totally right! that's sad, when people blame tether just for nothing
14 Apr, 2019 - 21:00
im glad that I dont have to deal with those smearing Tether on a daily basis, their arguments are just so asinine sometimes...
15 Apr, 2019 - 18:40
such errors can happen with any kind of token and tether is not an exception. however we can see that this stablecoins is good asset for trading or holding
09 Apr, 2019 - 12:09
i also trust in usdt, that must be a mistake
20 Apr, 2019 - 03:18
just tether is on it's peak of popularity, and people have to discuss it
20 Apr, 2019 - 06:04
of course, i use tether for long time and still has had only positive experience
11 Apr, 2019 - 02:01
Yes, maybe some kind of failure. nothing wrong. This happened for the first time and it is forgivable, since tether is a good coin that never fails. how much I use it already, I have no complaints
12 Apr, 2019 - 22:59
Nothing confusing. Tether is just getting ready to the launch of Tron-USDT project.
08 Apr, 2019 - 22:48
well, I have no idea what happened but looks like tether community really growth
09 Apr, 2019 - 18:49
It seems that this is the reason as they have to be prepared, so they start actions
09 Apr, 2019 - 21:01
There are several things Tether may pursue to secure its crypto dominance - although it has no equals at the moment, crypto is prone to changes, so preparation might be helpful
15 Apr, 2019 - 18:12
seems so, why else could happen this? believe, that tron-usdt will be great
15 Apr, 2019 - 19:40
think so, yea, what else can be in such a situation, tether-tron just need some prep
20 Apr, 2019 - 03:57
what are you talking about?
nothing strange that tether gains higher volumes
ready for the tether-tron launch
09 Apr, 2019 - 20:11
a lot of traders are definitely interested in the tether and the growing volumes of it mean that just more people are interested in this stablecoin
10 Apr, 2019 - 16:00
ofc interested
everyone tries to get ready for the tron-usdt launch
11 Apr, 2019 - 23:18
im waiting for it too!
i dont think that this technical error was very dangerous. nothing wrong. I'm sure they fixed it and now tether works great! tether proved to be a good coin, with which you can trade without any problems
16 Apr, 2019 - 21:45
tether was doing great and continues to dominate
why are you surprised?
09 Apr, 2019 - 22:28
tether was always doing so
nothing new
15 Apr, 2019 - 09:09
The influence of Tether is in the air of crypto – I can smell it everywhere, every little coin wants to be like Tether and copies its’ ideas
10 Apr, 2019 - 12:37
tether team works to hear such feedback
I do agree with it all
11 Apr, 2019 - 22:09
Wouldn’t blame Tether for anything, the coin suits me and moreover, I got huge incomes with it!
10 Apr, 2019 - 15:39
the usual tether community doesn't blame the coin, these are only haters who do it
11 Apr, 2019 - 20:40
11 Apr, 2019 - 20:47
we must admit that having Tether on the market positively affects the industry
10 Apr, 2019 - 16:14
as we see tether makes pros this time
tron partnership may be really of the future
10 Apr, 2019 - 23:49
what bot are you talking about?
yoy do all to blame tether
12 Apr, 2019 - 22:02
I wonder what is a problm?
again tether haters os just journalists?
14 Apr, 2019 - 04:32
last time tether gets more supporters
it's not a surprise for all of us. tron & tether partnership does its job
13 Apr, 2019 - 11:43
it was expected. transparent tether + decentralized tron = success
13 Apr, 2019 - 12:10
Tether made progress not because of nothing – it is on the market for long and is supported widely. Still there are some people who try to argue this fact, but you know there's no accounting for taste.
14 Apr, 2019 - 19:06
tether team really works hard to see this progress. nothing happens and comes from nowhere
16 Apr, 2019 - 21:14
Don’t want to spend my time trying to convince people from the net that Tether is the future of the coins, if most of them don’t understand obvious things – that’s their problem
14 Apr, 2019 - 19:22
you are right
all we need is to know it itself and support tether
all the other can do anything they want
15 Apr, 2019 - 20:58
I don’t want to stop working with Tether, the coin gives me everything for a comfortable trading
14 Apr, 2019 - 19:48
don’t think that haters will have results on different forums, Tether’s users are loyal to the coin
15 Apr, 2019 - 19:17
I would support Tether because this coin promotes fairness and transparency in the industry, and this must be a mistake
14 Apr, 2019 - 20:27
yeah, you are right about tether. each coin have troubles but tether is one of the best among stablecoins
18 Apr, 2019 - 09:28
I would never think that dollar-pegged crypto can reach the highest volumes in crypto! That’s only Tether who could do this!
15 Apr, 2019 - 13:07
Tether could do everything, the result depends on the community of holders and team's forces
15 Apr, 2019 - 22:22
Haters’ concentration on Tether is growing with the volumes of the coin, I got used to this fud already and don’t put much attention.
15 Apr, 2019 - 13:31
hey thats a pretty reasonable move dont you think? when market demands more coins, Tether provides just that, so i think its all been done right
15 Apr, 2019 - 13:44
actually you are right
moreover Chinese investors have shown tether demand
19 Apr, 2019 - 07:47
i dont specifically care about USDT, but i cant ignore defamation when it happens near me, this stuff leaves a bad aftertaste in my mouth
15 Apr, 2019 - 15:52
Such accusations will only hurt market. I am sure that it was a glitch and Tether will fix it and never again that happen
15 Apr, 2019 - 19:41
As I see everything is ok now so we can top blaming tether and forget about this situation
17 Apr, 2019 - 06:26
lol, where does someone get all this bullshit?
tether demand growth and this is the fact
16 Apr, 2019 - 20:43
personally i absolutely trust bitfinex and find it one of the most credible exchanges
16 Apr, 2019 - 21:55
do you see my poker face? this is how I’m tired of these useless talking about Tether! guys, what do you need from it? it’s volumes will never pass away, and it doesn’t matter if you want it or not
18 Apr, 2019 - 18:49
quite tired of seeing different people trying to find some issues in the way Tether works, think you are guys wasting your time
18 Apr, 2019 - 20:30
Actually, all those people who support the controversial news about Tether show themselves in a bad way, this coin wouldn’t do something that can ruin all its’ progress in a moment
18 Apr, 2019 - 20:53
Despite the growing number of envious and lying people around Tether the coin continues showing a good performance
18 Apr, 2019 - 21:06
don’t want to explain to you that Tether wouldn’t use such ways of promoting, the coin has made a long way to its’ modern positions and I don’t think that the management of the coin can risk it somehow
18 Apr, 2019 - 21:53
The clear reputation of Tether isn’t interested in any risks, I think that we all may be sure that those rumors are fake
18 Apr, 2019 - 22:16
Without proofs all speculations will remain speculations, those people who think that they can hurt Tether’s numbers by spreading fake news are terribly wrong
18 Apr, 2019 - 22:29
There are no questions to Tether right now, the coin has shown us an impressive performance in the first 4 months of the year and wants to achieve better goals
19 Apr, 2019 - 03:13
just an error, or smth like that, no need to worry about the coin
19 Apr, 2019 - 03:42
This news means nothing to me as Tether seems to be growing in strength this month - but let's not get ahead of ourselves too much for the moment
19 Apr, 2019 - 20:40
I would like to study this situation a bit more, I think that something else is involved here, something not related to Tether at all
20 Apr, 2019 - 02:55
what bot are talk? tether moved tokens from treasury
the demand grows
20 Apr, 2019 - 19:44
+++ i duo what bot
there was treasury and tokens now moved.
20 Apr, 2019 - 20:30

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