On July 11 (UTC+8), Tether announced plans to stop redeeming USD₮ tokens on the five blockchains Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand starting in 2025, and to freeze the remaining tokens. This move is part of Tether's infrastructure optimization, aimed at shifting resources to more scalable and developer-active blockchain platforms to enhance community engagement. Tether CEO Paolo Ardoino said that through this adjustment, the company will be better able to focus on driving stablecoin adoption and expansion on emerging platforms. (Source: Mlion.ai) [MetaEra]