Topic: Could Tether pull USDT from some blockchains? (Read 28 times)

In February 2024 Circle announced that they will abandon TRON. They will still exchange USDC or transfer to other blockchains from TRON until February 2025, but they have stopped any minting of USDC on TRON. Following this decision Binance stopped deposits and withdrawals of USDC on TRON.

Though the official reason cited by Circle representatives is a desire to be more compliant with market regulations and fears of possible legal actions against Justin Sun by the US government, would they have done this if USDC on TRON were more popular? USDC minted volume on TRON was about 350 million before their decision. In comparison, minted USDT volume on TRON is over 50'000 million (50 billion). And daily USDC transactions count on TRON was only about 4'000 before February, while USDT transactions count was and is about 1'800'000 (1.8 million) per day. I doubt Tether would pull USDT from TRON for legal reasons exactly because it's one of the most popular blockchains for USDT.

But still, it raises questions. Could Tether drop some blockchains because they are not popular and/or are considered shady?

Tether supports several blockchains that you may not have even heard of. Liquid, Algorand, Polkadot, and SLP have USDT volumes of less than 100 million tokens. I'm guessing any of them could be dropped by Tether if similar considerations about compliance arise. As far as I understand, Liquid supports anonymous transactions, which, I suppose, makes at least some USDT transfers on it untraceable. That is definitely not helping compliance with financial regulations. So, could Tether drop the Liquid blockchain?