Tether to Halt USDT on Omni, BCH, Kusama, EOS, Algorand as Focus Shifts to Layer 2s
Redemptions and token minting on Omni Layer, Bitcoin Cash's Simple Ledger Protocol, Kusama, EOS, and Algorand are set to stop on Sept. 1, 2025. Remaining tokens are to be frozen on the same day, according to a statement.
Together, the five networks carry only a sliver of USDT's roughly $156 billion float. Tether says the usage of USDT on these networks, which it touts as playing a role in the firm's early growth, has declined 'significantly' over the past two years.
'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,' Tether CEO Paolo Ardoino said in the statement.
The firm will redirect its focus to Layer 2 networks such as the Lightning Network and to newer blockchains that promise faster settlement and richer developer tooling.
Tether has asked its customers holding USDT on the five networks to redeem their holdings as soon as possible or request issuance of their tokens on a supported blockchain. Token holders can migrate their tokens through blockchain bridges or exchanges.
The lion's share of Tether's $156 billion fiat is currently circulating on Tron and Ethereum, which together make up over 95% of the total. Solana is the only other network with more than 1% of USDT's supply in circulation, according to RWA.xyz data.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
44 minutes ago
- Yahoo
Redburn-Atlantic Raises Boeing (BA) Stock Rating to Buy, Lifts PT
The Boeing Company (NYSE:BA) is one of the 13 Best Large Cap Stocks to Buy Right Now. On June 25, Redburn-Atlantic upgraded The Boeing Company (NYSE:BA) rating to 'Buy' from 'Neutral' and increased its price target from $180 to $275. The research firm noted positive changes in The Boeing Company's (NYSE:BA) financials, culture, industrial processes, and overall strategy. Redburn-Atlantic also pointed out that the company's health is improving after years of difficulties. A commercial jetliner parked at an airport, reflecting the companies success in aviation. The firm's analysis focused especially on the production potential at Boeing Commercial Aircraft (BCA), highlighting that The Boeing Company (NYSE:BA) can increase deliveries of the 737 and 787 models. Redburn-Atlantic projects these models could reach production rates of 63 and 14 aircraft per month, respectively. This boost in production could generate an additional $1.7 billion in post-tax cash profits compared to current models. This represents a 13% potential upside to the firm's 2029 cash flow estimates for The Boeing Company (NYSE:BA). Redburn-Atlantic believes that the company's free cash flow could surpass $14 billion by the end of the decade, exceeding the previous highest free cash flow of $13.6 billion achieved by The Boeing Company (NYSE:BA) in 2018. The Boeing Company (NYSE:BA) is a leading global aerospace company that manufactures and services commercial airplanes, defense products, and space systems. While we acknowledge the potential of BA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
an hour ago
- Yahoo
Danaher (DHR) Teams Up to Advance Precision Medicine Diagnostics
Danaher Corporation (NYSE:DHR) is one of the 13 Best Large Cap Stocks to Buy Right Now. On May 29, Danaher Corporation (NYSE:DHR) announced a new partnership with AstraZeneca to scale precision medicine. This partnership aims to create and commercialize novel diagnostic tools and tests, including the new generation of AI-powered diagnostics. These tools and tests would be designed to help clinicians better determine which patients would benefit most from precision medicine treatments. A healthcare professional in a lab coat holding a microscope and looking at a slide under the lens. Danaher Corporation (NYSE:DHR) pointed out that this collaboration will use the recently opened Danaher Centers for Enabling Precision Medicine to help make the development process smoother and more efficient. The first product planned for development will use technologies from Leica Biosystems, one of Danaher Corporation's (NYSE:DHR) subsidiaries. The partnership will initially focus on digital and computational pathology products and AI-assisted algorithms. These products will help clinicians diagnose patients more accurately and find out who is most likely to benefit from targeted therapies. Danaher Corporation (NYSE:DHR) is a leading global life sciences and diagnostics innovation company. With a focus on science and technology, the company helps discover, develop, and deliver life-changing therapies. While we acknowledge the potential of DHR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Redburn-Atlantic Raises Boeing (BA) Stock Rating to Buy, Lifts PT
The Boeing Company (NYSE:BA) is one of the 13 Best Large Cap Stocks to Buy Right Now. On June 25, Redburn-Atlantic upgraded The Boeing Company (NYSE:BA) rating to 'Buy' from 'Neutral' and increased its price target from $180 to $275. The research firm noted positive changes in The Boeing Company's (NYSE:BA) financials, culture, industrial processes, and overall strategy. Redburn-Atlantic also pointed out that the company's health is improving after years of difficulties. A commercial jetliner parked at an airport, reflecting the companies success in aviation. The firm's analysis focused especially on the production potential at Boeing Commercial Aircraft (BCA), highlighting that The Boeing Company (NYSE:BA) can increase deliveries of the 737 and 787 models. Redburn-Atlantic projects these models could reach production rates of 63 and 14 aircraft per month, respectively. This boost in production could generate an additional $1.7 billion in post-tax cash profits compared to current models. This represents a 13% potential upside to the firm's 2029 cash flow estimates for The Boeing Company (NYSE:BA). Redburn-Atlantic believes that the company's free cash flow could surpass $14 billion by the end of the decade, exceeding the previous highest free cash flow of $13.6 billion achieved by The Boeing Company (NYSE:BA) in 2018. The Boeing Company (NYSE:BA) is a leading global aerospace company that manufactures and services commercial airplanes, defense products, and space systems. While we acknowledge the potential of BA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
