Tether announced on X platform in the early morning that within a few minutes, Tether would destroy 1.2 billion USDT (on Tron) accumulated in the vault wallet on the Waves platform, as part of the previous cycle's chain swap and redemption. The total supply of USDT will not change during this process.On-chain data shows that a few minutes after Tether released the above announcement, Tether's vault had destroyed 1.2 billion USDT on the Tron network at 01:17 Beijing time.
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Tether: Destroyed 1.2 Billion USDT in the Early Morning for Chain Exchange and Redemption, the Total Supply Has Not Changed
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