In their recent blog post, Tether, the parent company of a USDT stablecoin, announced a token burn that will permanently eliminate 500 million units. In a recent blog post, Tether announced a token burn that will permanently eliminate 500 million units. Yesterday, they said it had been completed. Why?
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Well, it is their right to burn the 500 million after investors redeemed their coins. The value of theter plunged... so when these redeemed coins resting in their treasury are burned, they can issue new coins with better value...
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