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Tether, the issuer of the USDT stablecoin, has announced it will no longer mint new USDT tokens on the Algorand and EOS blockchains. This decision, effective immediately, reflects Tether’s effort to optimize its blockchain ecosystem by focusing on community-driven support and resource allocation.



Despite ceasing new minting, Tether will continue to support the redemption of USDT on these blockchains for the next 12 months. The company mentioned that additional changes might be evaluated and announced after this period.

The decision was made after a thorough evaluation of the network security, usability, and sustainability of Algorand and EOS. Tether aims to reallocate resources to platforms that enhance security and efficiency while supporting innovation in the cryptocurrency landscape.

In August 2023, Tether stopped minting USDT on three other blockchains: Kusama, Bitcoin Cash’s Simple Ledger Protocol (SLP), and the original USDT blockchain, the Omni Layer Protocol. This move is part of Tether’s ongoing adaptation to the evolving blockchain environment, having first issued tokens on Bitcoin through Omni in October 2014.

While withdrawing support from Algorand and EOS, Tether continues to expand into new blockchain networks. In April 2024, the company launched USDT on The Open Network (TON), minting approximately $500 million worth of stablecoins, representing 0.44% of the total circulating supply of USDT.

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