Tether pauses freezing of USDT on five blockchains
Omni Layer faces the biggest impact as Tether revises its blockchain strategy, leaving nearly $83 million in USDT unsupported.
Tether has suspended its plan to freeze USDT smart contracts on five blockchains after feedback from community members. The stablecoin will remain transferable on these networks, but can no longer be issued or redeemed.
The decision affects Omni Layer, Algorand, EOS, Bitcoin Cash SLP, and Kusama. Omni Layer is most impacted, holding nearly $83 million in USDT. EOS carries around $4.2 million, while the other chains have less than $1 million combined.
Tether said it will focus on blockchains with strong adoption and developer activity, such as Ethereum and Tron, which hold over $150 billion in USDT. BNB Chain, Solana, and Ethereum layer-2 networks also play key roles in the stablecoin market.
The move comes as stablecoins gain fresh momentum following US President Donald Trump’s signing of the GENIUS Act. Analysts expect the law to strengthen dollar-pegged stablecoins globally, with forecasts suggesting the market could reach $2 trillion by 2028.
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