Tether burns 2 billion USDT from its Treasury address

The stablecoin issuer pulled a large chunk of tokens out of circulation, its latest in a series of big supply cuts this year Tether Treasury has burned 2 billion USDT, according to blockchain monitor Whale Alert. At USDT’s intended one-to-one dollar peg, that is about $2 billion in tokens permanently removed from circulation. The burn is dated October 31, 2026. It joins a lineup of other large burns already recorded this year. A stablecoin burn works on the same logic as a casino cashing out chips. When holders redeem USDT for fiat currency, Tether destroys the matching tokens.