Tether stops minting USDT on three blockchains, including Bitcoin’s Omni Layer

2023-8-18 22:50

On Aug. 17, leading stablecoin firm Tether announced its decision to discontinue support for its USDT stablecoin on three blockchains and blockchain layers: the Omni Layer, Kusama, and Bitcoin Cash SLP implementations of its USDT stablecoin.

Tether emphasized the significance of its decision to end support for Omni, which is the Bitcoin-based network on which the stablecoin was originally offered.

The company said that Omni Layer had experienced challenges that caused many exchanges to prefer USDT issued on other blockchains. Tether said that it is willing to reconsider its decision if Omni sees increased usage in the future.

Tether will instead offer its Bitcoin implementation of USDT on RGB, a layer-2 and layer-3 network for Bitcoin, and the Lightning Network. Tether said that this would offer “unparalleled scalability” and noted that it is contributing to the RGB’s development.

Tether said that it would stop minting USDT on the three affected networks beginning immediately, Aug. 17. The company said that it would continue to redeem the affected USDT as normal for at least one year and said users would be able to trade on exchanges.

Most USDT is on Ethereum, TRON

The decision should have a minimal impact on USDT’s supply. Though multiple other networks are supported, the vast majority of USDT currently circulates on Ethereum and TRON, which together account for virtually all of USDT’s $83 billion market cap.

Current data indicates $888 million of USDT has been authorized in Omni, but more than two-thirds of that amount is not issued or has been quarantined.

The same data shows that $3.5 million of USDT has been authorized on Kusama, with over half of that amount unissued. It also shows that nearly $6.0 million of USDT has been authorized on SLP, with about 85% of that amount unissued.

The company did not state whether its euro-pegged stablecoin, EURT, will be affected. A minimal amount of that token (€1,610.54) exists on Omni.

The post Tether stops minting USDT on three blockchains, including Bitcoin’s Omni Layer appeared first on CryptoSlate.

origin »

USDx stablecoin (USDX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.62 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 1.2368 (-100%)

stablecoin usdt omni tether bitcoin layer three

Источник: cryptoslate.com

stablecoin usdt → Результатов: 126


Фото:

Bitcoin Price Pumps Following $84M Tether Deposit to OKEx

More than $84 million worth of the controversial stablecoin Tether (USDT) has just been transferred to the Malta-based cryptocurrency exchange OKEx. With some commentators alleging that USDT is being used to artificially prop up the price of Bitcoin, the funds arriving at the trading venue today may have been partly responsible for the latest price […] The post Bitcoin Price Pumps Following $84M Tether Deposit to OKEx appeared first on BeInCrypto.

2019-12-5 16:43


Is Tether’s Centralized USDt Market A Cause For Worry? 104 Wallets Control 70% Of The Supply

Tether the parent company behind the leading stablecoin in the cryptocurrency market USDT has been at the center of the ongoing controversy regarding its role in manipulating Bitcoin prices. Now the on-chain metrics of tether revealed another worrying stat which suggested that 70% of the total market supply of USDT is controlled by just 104 […]

2019-10-16 20:07


Best Tether (USDT) Wallets: Best Solutions for Hardware, Desktop, iOS and Android

Tether is the first and by far most popular stablecoin. According to CoinMarketCap, USDT activity reached an all-time high in August with a market cap exceeding $4 billion. Tether is reportedly used in between 40-80 percent of all transactions on the exchanges Huobi and Binance, the latter of which now offers loans based on USDT […]The post Best Tether (USDT) Wallets: Best Solutions for Hardware, Desktop, iOS and Android appeared first on CaptainAltcoin.

2019-10-12 14:50


Фото:

Bitfinex Refutes Study Linking Tether (USDT) Issuance to Market Manipulation

Bitfinex has publicly stated that they have caught wind of an unpublished paper that wrongly accuses the Tether stablecoin of being a main force behind the cryptocurrency bull market. The exchange has disputed these conclusions and claims that said the study is based on cherry-picked data and unrealistic assumptions, October 6, 2019.

2019-10-7 11:36


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

All you need to know about Ethereum stablecoins' market cap hitting new high

Stablecoins on the Ethereum network just hit a new historic high, in line with global stablecoin count Assessing incoming regulatory headwinds and potential impact liquidity will be key The The post All you need to know about Ethereum stablecoins' market cap hitting new high appeared first on AMBCrypto.

Bitcoin exchange activity spikes: Are sell-offs around the corner?

Elevated BTC exchange inflows hint at selling pressure and market volatility risks. Mixed signals from Coinbase Premium and funding rates point to bearish sentiment. Bitcoin [BThe post Bitcoin exchange activity spikes: Are sell-offs around the corner? appeared first on AMBCrypto.

TRON 'beats' Ethereum on THIS front after stablecoin supply evens out

Stablecoins on TRON network stabilized at $62 billion Lending on the network accounted for 55% of the TVL The stablecoin supply on TRON, specifically USDT, hit a stable level of $62 billion,The post TRON 'beats' Ethereum on THIS front after stablecoin supply evens out appeared first on AMBCrypto.