Stablecoin Giant Tether Cuts the Fat

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So, you know how sometimes you gotta clean out the closet and get rid of those old, ratty t-shirts from college? Yeah, that’s basically what Tether just did with USDT support on five blockchains. They’re shedding the legacy chains like a bad habit, and I gotta say, it’s about time 🙄.

Apparently, Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand just weren’t cutting it anymore. I mean, who needs ’em, right? Tether’s all about focusing on the networks that actually move volume, like the cool kids on the block 🤓. They’re freezing remaining tokens by September 1, so you’d better get your act together if you’re still holding on to those old tokens 😬.

Now, I know what you’re thinking: “Larry, what’s the big deal? It’s just a few old blockchains.” But let me tell you, this is like a canary in the coal mine. It’s a sign of things to come, folks. Tether’s not messing around, and if you’re not on a network that’s got the goods, you’re gonna get left behind 🚂.

A calculated retreat with wider ripple effects (aka, the beginning of the end)

Omni, the original home of USDT, was once the place to be. I mean, it processed over $7 million worth of transactions and had over 400,000 users. But now? Crickets 🦋. EOS, on the other hand, was like the enfant terrible of the blockchain world. It had its controversies, but it also had some serious user numbers. But hey, all good things must come to an end, right? 🤷‍♂️

Tether CEO Paolo Ardoino said it best: “Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement — all key components for driving the next wave of stablecoin adoption.” Yeah, yeah, yeah, I get it. You want to be where the cool kids are, Paolo 🤓.

But seriously, this is some serious business. Projects built on these chains are in a bit of a pickle. They’ve gotta migrate liquidity, lobby for alternative stablecoins, or risk being left out in the cold ❄️. Tether’s given them until September 1 to get their act together, but let’s be real, the clock is ticking ⏰.

Meanwhile, Tether’s all about doubling down on Layer 2 networks like Lightning and active ecosystems like Ethereum and Tron. They’re like the popular kids in school, and everyone wants to be their friend 🤩. But hey, if you’re not on the list, you’re not getting in 🚫.

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2025-07-11 19:26