Critical Announcement from Tether (USDT): Discontinuation of Support for Two Altcoins!
Tether, the issuer of the largest stablecoin USDT, has made a significant announcement regarding its support for EOS and Algorand. In its latest statement, Tether revealed that it will cease issuing USDT in these two altcoins starting from June 24, 2024.
However, Tether assured users that it will continue to provide USDT exchange services on EOS and Algorand for the next 12 months. The decision to discontinue support for these applications was made after a thorough evaluation of the security architecture of the networks. Tether emphasized the importance of community interest in determining which blockchains to support and encouraged the expansion of USDT use cases across different protocols.
The transition process will follow this timeline: Tether will stop printing USDT in EOS and Algorand on June 24, 2024, while still utilizing USDT on these platforms for the next 12 months. Additional changes may be evaluated and announced during this period.
Tether’s strategic transition aims to prioritize community-driven blockchain support. For more information, please visit their official website.
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