Tether to Stop Supporting Smaller Blockchain Protocols
Key Points:
– Tether, the largest stablecoin issuer, will no longer support Omni, Kusama, and Bitcoin Cash protocols.
– Tether’s move reflects its migration towards larger networks like Ethereum and Tron.
– Users can exchange USDT-Omni, USDT-Kusama, and USDT-BCH-SLP for different chains on platforms that support these assets.
– Tether cites declining usage of Omni-based USDT as the reason for the decision.
– Critics argue that Tether’s focus on larger networks goes against the decentralized nature of cryptocurrencies.
Hot Take:
Tether’s decision to stop supporting smaller blockchain protocols and focus on larger networks reflects its commitment to meeting market demand and ensuring liquidity for its users. While some critics may see this move as a step towards centralization, Tether believes that it will ultimately make USDT more accessible in the long run. As the crypto industry continues to evolve, it is essential for stablecoin issuers to adapt to changing market dynamics.
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