Yesterday Tether quietly took 500 million USDT out of circulation, then promptly destroyed them.
TETHER SUPPLY SHRINKS BY $500 USDTYesterday the stablecoin saga took a new twist as Tether Limited, the company responsible for minting and distributing the USD-pegged ‘stablecoin’ Tether (USDT) $0.98895 +0.09%, removed 500 million USDT from circulation and destroyed them.
Blockchain data from OmniExplorer.info shows that Tether moved 500 million USDT from their treasury address to a different address ,which the firm’s website identifies as the official USDT issuing address. Once the transaction was confirmed, the issuing address rejected the tokens which essentially removed them from circulation and also destroyed them. More
here.