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Tether is discontinuing support for its USDT stablecoin on five blockchains, freezing remaining assets by September 1. The move aims to optimize infrastructure and focus on high-utility networks. USDT remains the largest stablecoin with a $160B market cap.
- Tether will freeze USDT redemptions on five blockchains (Algorand, EOS, Bitcoin Cash, Kusama, Omni) by September 1.
- The firm aims to refocus resources on scalable, high-utility chains like layer-2 networks.
- USDT remains the dominant stablecoin with a $160B market cap amid global regulatory scrutiny.
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