Tether (USDT) Makes Critical Announcement: Support for Two Altcoins Ceases!
Tether (USDT), the leading stablecoin issuer, has recently declared that it will no longer provide support for EOS and Algorand. The decision will take effect from June 24, 2024.
In its latest statement, Tether explained that it will discontinue issuing USDT on the EOS and Algorand blockchains. However, it will continue to facilitate USDT exchange services on these platforms for the next 12 months.
Tether emphasized the importance of community interest in determining which blockchains to support. The company thoroughly evaluates the security architecture of each network to ensure the chosen blockchain is secure, user-friendly, and maintainable.
After a comprehensive evaluation, Tether has decided to end its support for EOS and Algorand applications. However, it remains committed to supporting protocols and chains that the community finds valuable. Tether encourages the expansion of USDT use cases across various protocols.
The transition will occur in stages. Starting from June 24, 2024, Tether will cease printing USDT on the EOS and Algorand blockchains. However, it will continue using USDT on these platforms as usual for the next 12 months. Additional changes may be evaluated and announced during this period.
Tether has announced its strategic transition to prioritize blockchain support driven by the community. For more information, visit their official website.
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