Tether Pulls the Plug: USDT Redemptions Axed on Bitcoin Cash, Algorand & Other Chains
Tether just dropped a bomb on multi-chain stability—no more USDT redemptions on Bitcoin Cash, Algorand, and several other blockchains. Here’s why it matters.
The Domino Effect Begins
The stablecoin giant is tightening its belt, cutting off exit routes for USDT holders on select networks. No warnings, no phase-outs—just a hard stop.
Ghost Chains Feeling the Heat
Bitcoin Cash and Algorand—once hyped as Ethereum killers—now face liquidity drains as traders scramble to bridge or dump stranded USDT. A brutal reminder: in crypto, even ‘stable’ assets come with asterisks.
The Fine Print Nobody Read
Tether’s blog post claims this ‘streamlining’ will ‘enhance efficiency.’ Translation: fewer chains mean lower operational costs—and one less headache for their legal team.
Cynical Take
Another day, another centralized ‘deFi’ decision made behind closed doors. But hey, at least the arbitrage bots will feast.
