Stablecoin Saga: Tether's Tron Tango Amidst Rival's Retreat

Tether, the leading stablecoin issuer, remained ambiguous about its plans regarding support for the Tron network following Circle's decision to halt minting USDC on Tron due to safety concerns. In response to inquiries, Tether refrained from confirming or denying any intentions to discontinue its support for Tron, emphasizing that Tether tokens are issued on various blockchains as transport layers. However, Tether asserted its capability to freeze transactions on each supported transport layer for compliance purposes and assured active monitoring of their safety standards. With a market capitalization of $97.7 billion, USDT leads the stablecoin market, while USDC trails behind at $28 billion. Tron hosts over 51.8 billion USDT, constituting over half of the total USDT tokens issued across multiple blockchains, as per Tether's transparency report dated February 21, with approximately $76.2 million reserved for near-term liquidity on the Tron network.