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Tether redeems and burns 500 million USDT
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On Wednesday, Tether, the company behind the fiat-backed stablecoin USDT, announced that over the past week it has "redeemed a significant amount of USDT" and will now burn 500 million USDT, representing those redemptions. According to the firm, the remaining 446 million USDT in its treasury will be used as a "preparatory measures for future USDT issuances." (Source: Tether)
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