Tether Slashes USDT Support on Five Blockchains: A Bold Move to Streamline Operations

Tether just pulled the plug on USDT support across five blockchains, slicing through the fat of its multi-chain setup like a hot knife through butter. This isn't just housekeeping; it's a clear signal of where the big bucks in stablecoin liquidity are flowing next.

On July 11, Tether dropped the bomb: they're cutting off USDT on Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand. Come September 1, any USDT left on these chains will be as frozen as a popsicle in the Arctic.

This isn't some random decision. It's the result of a deep dive into their infrastructure, marking the end of the road for networks that once helped Tether's USDT spread its wings across the crypto world. They've been watching the numbers, and these chains just aren't cutting it anymore. Tether's shifting its focus to where the action is: chains with more users and better growth potential.

Sure, pulling the plug on these chains might seem like just another day at the office, but it's a big deal. It shows Tether's playing for keeps and reshaping its game plan.

A Calculated Retreat with Major Ripple Effects

Tether's decision to drop USDT support on Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand isn't just about tidying up the backend. It's a full-stop for chains that once fueled the early days of USDT's growth. Remember Omni? It was USDT's first home, handling over $7 million in testnet transactions and pulling in over 400,000 users at its peak.

And EOS? Despite its ups and downs, it once boasted 30 million monthly users, thanks in part to platforms like MetaMask. But the glory days are gone. Usage has tanked, and Tether's not waiting around. They're freezing tokens and halting redemptions by September, no ifs, ands, or buts.

“Cutting these legacy chains loose lets us zero in on platforms that are all about scalability, developer buzz, and community vibes—the real drivers of the next stablecoin wave,” said Tether CEO Paolo Ardoino.

This move isn't just about Tether. It's a wake-up call for projects on these chains. They've got to decide fast: move their liquidity, hunt for other stablecoins, or risk being left in the dust. Tether's given everyone until September 1 to get their ducks in a row, but time's running out for these ecosystems to prove they've still got game.

Meanwhile, Tether's all in on Layer 2 networks like Lightning and hot ecosystems like Ethereum and Tron, where most of the USDT action happens. They're still issuing USDT on a dozen networks, including Solana, Polkadot, Avalanche, and TON, but the days of babysitting low-volume chains are over.