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Effective immediately, Tether will halt minting USDT on Omni, Kusama, and BCH-SLP layers

Users will still be able to deposit and withdraw after the deadline, but trading will be suspended.

Tether (CRYPTO: USDT) Thursday announced that it will discontinue its support for USDT on the Bitcoin (CRYPTO: BTC), Kusama (CRYPTO: KSM), and Bitcoin Cash (CRYPTO: BCH) blockchains. What Happened: The stablecoin issuer evaluated the current transport layers and determined their relevance in the blockchain ecosystem.

Based on a number of internal Analysis indicators, Tether Limited ceased supporting its flagship product USDT, the largest stablecoin, on three blockchains. Omni, the first platform USDT utilized since 2014, is also on the list.

Tether, the issuer of $82 billion market cap stablecoin USDT, has announced that it will discontinue support for three blockchains as part of a strategic transition aimed at meeting community demand and fostering innovation.

Tether, one of the most renowned stablecoin providers, has announced the discontinuation of support for its flagship stablecoin, USDT, on the Bitcoin (BTC) blockchain, in an unexpected turn of events. Tether Transitions from Stablecoin Variants Tether gave the announcement in a release, stating that it would cease the issuance or “minting” of USDT tokens on

Stablecoin issuer Tether has ceased support for Kusama, Bitcoin Cash Simple Ledger Protocol (SLP), and Omni Layer citing a lack of demand.

Stablecoin operator Tether is building specialized Bitcoin mining software aimed at using data analytics to optimize mining operations and boost production, CTO Paolo Ardoino says.

Tether, the prominent stablecoin issuer, has unveiled a strategic shift in its support for various blockchains. Starting August 17, 2023, Tether will cease the issuance of USDT on Polkadot's Kusama test chain, Bitcoin's Omni Layer, and Bitcoin Cash's SLP implementation.

Stablecoin issuer Tether has announced that it will discontinue support for Omni, a Bitcoin layer that has been used for USDT transfers since 2014.

On August 16, official notifications revealed that the Federal Bureau of Investigation (FBI) had taken control of various cryptocurrencies from wallets in the past several months.

USDT surges on exchanges, while BTC's reserves hit lows. Cryptocurrency markets poised for transformative shifts.

Once again, cryptos have entered into a frustrating sideways consolidation as blockchain miners look to dump some of their holdings.

Paolo Ardoino, CTO of Bitfinex and Tether, introduces Ork, an orchestration module for Tether's novel Bitcoin (BTC) mining software, Moria. It is far more powerful compared to existing solutions and can also be implemented in energy production instruments.

Tether (USDT) recently lost its peg to the U.S. dollar. Although USDT is the most valuable stablecoin by market cap, the market turbulence did not spare the asset.

China has been harshly enforcing its crypto ban since the start of the year, cracking down on individuals and projects alike.

Plenty of launches last week — from PayPal, Base, Synthetix to DeBank — as we head into yet another exciting week in DeFi. Check out the latest DeFi news and alpha now!

Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news during the last week. In this issue: The Argentine peso reaches historic lows, Tether's USDT accounts for more than 80% of the transactions in the Brazilian market, and Binance gets fully licensed in El Salvador.

Tether, the issuer of the world's largest stablecoin, USDT, is breaking all records in 2023. In its Q1 assurance report, Tether gained an all-time high reserve surplus of $2.44 billion, and a net profit of $1.48 billion This raised many eyebrows because the world's largest asset manager, BlackRock, had only $1.

In contrast to earlier depegs, USDT's market cap didn't experience a significant decline after it slipped below $1 in the past week.

Led by Marc Zeller of the Aave Chan Initiative, Aave DAO's community governance process has approved a proposal to strategically acquire CRV tokens using USDT from Aave DAO's treasury.

PayPal, a forerunner in the digital payments sector, is charting its own path with its stablecoin, PYUSD, as it appears to be embracing a unique revenue model distinct from its competitors. According to a recent report by Bloomberg, PayPal's approach to revenue generation is set to differentiate it from other major stablecoin players.

Coinbase mainnet of Base is finally up and running, but there are some who have had a chance to use it for a few weeks already, among their investments are players such as Uniswap, USDT but also memecoins.

Circle Internet Financial (CRYPTO: USDC) is relying on its substantial cash reserve of more than $1 billion to navigate the increasing challenges posed by non-crypto entities such as PayPal Holdings Inc (CRYPTO: PUSD) The company wants to reverse the dwindling market share of its stablecoin, which ranks second in the market. Since the start of the year, the circulation of Circle's USD Coin has sharply decreased from $45 billion to approximately $26 billion, and in contrast, Tether, the leading stablecoin, has seen growth in the same timeframe.