Tether to Stop Minting Stablecoin USDT on Algorand and EOS

Tether, issuer of the world's largest stablecoin, said that it will stop minting the dollar-linked USDT token on the Algorand and EOS blockchains as part of a "strategic transition to prioritize community-driven blockchain support." The project aims to "strike a balance between maintainability, usage and community interest," Tether said Monday in a blog post. New USDT will cease to be minted on Algorand and EOS starting on Monday, though Tether will continue redeeming the stablecoin on the two chains for the next 12 months. On Algorand, there's just $85 million of USDT, or only 0.08% of the total supply.

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