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Tether cancels the plan to freeze USDT on five blockchains including EOS.
According to a report by Cointelegraph on August 30, Tether, a stablecoin issuer, announced that it has abandoned the plan to freeze the smart contracts of USDT on five chains: Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand, after receiving feedback from members of these ecosystems. Users can still transfer tokens on these blockchains, but Tether will stop direct issuance and redemption on these chains.
Among them, Omni Layer is the most affected chain, currently holding 82.9 million USD of USDT, while the participation of other networks is relatively small.
Tether announced as early as August 2023 that it would stop issuing USDT on Omni Layer, Kusama, and Bitcoin Cash SLP, and suspended the minting of EOS and Algorand in June 2024.
Currently, Tether provides the most support on Tron and Ethereum, with USDT circulating at 80.9 billion USD and 72.4 billion USD on these two chains, respectively.