Tether initiates strategic transformation and plans to stop supporting EOS and Algorand to mint USDT

Odaily News Tether announced that it will undergo a strategic transformation, prioritizing support for community-driven blockchains to maintain its strong and innovative ecosystem for USD₮ and other tokens. Tether stated that it will continue to evaluate the current transmission layer and strive to strike a balance between maintainability, usage, and community interest. After careful consideration, Tether decided to stop supporting EOS and Algorand implementations. The specific transition arrangements are as follows: -From June 24, 2024, Tether will stop minting USDT on EOS and Algorand. -Tether will continue to redeem USDT on EOS and Algorand for the next 12 months, and may evaluate and announce further changes during this period.