Tether burned 2 billion USDT on October 31, 2026, removing about $2 billion worth of the stablecoin from circulation. The transaction, carried out through the issuer’s Treasury address, represented slightly more than 1% of USDT’s circulating supply, estimated at $180 billion to $184 billion at the end of the same month. It followed a 2.5 billion USDT burn on July 7 and other burns on May 8 and August 21. Tether also received 223 million USDT from Bitfinex on October 31, a transfer that could precede redemptions or additional burns without confirming either outcome. Its third-quarter 2026 attestation reported a $1.5 billion profit and $7.95 billion in excess reserves.
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