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$110 Billion-Plus Stablecoin Market Now Faces a $55B Redundancy as Tether Abandons Support for Five Old-School Blockchains
In a stunning move, the world’s leading stablecoin issuer, Tether (USDT), has announced it will cease support for five legacy blockchains, effectively cutting off $110 billion in circulation. The affected blockchains are Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand.
According to sources, this strategic shift is a deliberate move by Tether to reposition itself as the dominant player in the stablecoin space. By phasing out these older networks, the company will be able to redirect resources toward scalable platforms, developer-friendly ecosystems, and Layer 2s like Lightning Network, where real-world usage and community involvement are on the rise.
As part of this upgrade, all redemptions and token activity on these five blockchains will cease by September 1st, 2025. This abrupt change means that users must take immediate action to avoid being locked out of their funds. For official customers, Tether has outlined two options: redeem existing USDT directly through the company or request issuance on a currently supported network such as Ethereum, Tron, or Solana.
Meanwhile, non-customers will need to utilize third-party service providers that support migration from these blockchains. Any tokens remaining on the affected chains after September 1st will be frozen and become non-transferable and non-redeemable.
While Tether’s move may be viewed by some as a necessary step toward long-term efficiency, others have raised concerns regarding the potential impact this might have on inactive users and decentralized finance (DeFi) ecosystems.
The company has emphasized that all redemptions must comply with its Terms of Service.
Source: www.cryptoninjas.net
