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Why Tether Is Pulling USDT from EOS and Algorand

Tether has announced the discontinuation of USDT token issuance on EOS and Algorand, citing a strategic pivot towards blockchain networks with vibrant communities and sustainable growth. While USDT redemption will remain available for at least a year, this move reflects Tether's commitment to optimizing resource allocation and fostering innovation in stablecoin ecosystems. This decision follows a similar strategy implemented last year and underscores Tether's focus on platforms like Ethereum, Tron, and others, known for active user bases and ecosystem expansion efforts.

2024-06-25Read
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