Tether Scraps USDT Freeze Plan on Five Chains, Ends Issuance and Redemption

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Tether has reversed its decision to freeze USDT smart contracts on five blockchains, saying tokens on those networks will remain transferable, though no longer supported for issuance or redemption.

Key Takeaways:

  • Tether will no longer freeze USDT on five blockchains but has ended issuance and redemption on them.
  • The affected networks, including Omni Layer and EOS, represent a small share of total USDT circulation.
  • Tether is focusing on high-demand ecosystems like Ethereum and Tron, where most USDT activity now occurs.

The stablecoin issuer made the announcement Friday, citing feedback from ecosystem participants. The affected chains are Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand.

“Tether has revised this approach and will not freeze the smart contracts on these networks,” the company stated, adding that users will still be...

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