#TradingStrategyMistakes Tether announced the cessation of support for its stablecoin USDT on five blockchain networks it considers outdated, which are:

Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand

effective from September 1st.

According to the announcement issued on July 11, redemption operations will cease, and the remaining digital tokens on these networks will be permanently frozen.

This decision is part of a strategy that the company described as improving infrastructure, aimed at keeping pace with changes in user behavior and directing resources toward more effective networks in terms of performance and scalability.

This move is a continuation of a gradual withdrawal process that began in 2023, when the company halted minting coins on the:

Bitcoin Cash, Kusama, and Omni Layer networks

and later on Algorand and EOS, the latter now known as Vaulta.

Despite halting issuance operations on those networks, Tether continued to allow redemption of the traded coins until recently.

With the new decision, this phase will be completely closed.

Paolo Ardoino, the CEO of Tether, explained that this move represents a necessary step to keep up with the rapid developments in the digital asset ecosystem. He added:

Stopping support for these old networks allows us to focus on more advanced infrastructure, which has greater scalability and activity at the level of the community and developers. $ETH