Tether, the company behind the fiat-backed stablecoin USDT, announced that over the past week, it has “redeemed a significant amount of USDT” and .

Tether, the company behind the fiat-backed stablecoin USDT, announced that over the past week, it has “redeemed a significant amount of USDT” and will now burn 500 million USDT.

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Cointelegraph
Tether Redeems and ‘Burns’ More than Half of USDT in Circulation
Tether says it has “redeemed a significant amount” of tokens from the circulating supply, and will now “destroy” 500 million USDT from its treasury wallet.