Tether General Director Paolo Ardoino said that “the company will continue to support protocols that the community will consider useful and will refuse to use USDT in blockchains with low demand and outdated infrastructure.”
This decision reflects the general trend in the crypto industry to concentration on technologically advanced platforms, which can increase the stability and availability of digital assets, Ardoino noted.
The head of Tether recalled that the company was preparing to stop supporting these blockchains in advance. For example, in August 2023 it was announced to stop the USDT release on the Omni Layer, Kusama and Bitcoin Cash SLP platforms, and in June 2024, the release of stablecoins on the EOS and Algorand platforms stopped.
Tether recommended users to transfer their USDT to supported networks, such as Ethereum or Tron, until September 1.
Previously, Tether reported 80 tons of gold by $ 8 billion, which are stored in the Swiss storage in order to maintain the liquidity of the assets produced by the company.
Source: Bits
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