Company Limited Tether “burned” licenzirovanie 500 million U.S. dollars USDT. Details of the relevant transaction available on the link.

Tether has just destroyed USDt 500M from the Tether treasury wallet with the following tx: https://t.co/HTG52LaRVh
For more information see the announcement here: https://t.co/McLTCGzmJi

β€” Tether (@Tether_to) 24 Zhovtnia 2018 R.

The official statement reads that Tether treasury remained approximately 466 million USDT, which will be used for future emissions. The company stressed that the process of destruction and production of new tokens is clearly spelled out in the whitepaper.

Some social media users expressed the view that it is generally good for the ecosystem of cryptocurrencies:

Tether just redeemed/burned another $500,000,000.

This is good for the ecosystem. Having 1 stablecoin with so much gray area surrounding it be so dominant among UAD pegged-tokens is unhealthy.

The Slow decline of USDT + competition without the FUD is healthy. https://t.co/ZPpF6ilbVI

β€” Brad Mills (@bradmillscan) 24 Zhovtnia 2018 R.

More stable coins = less tether https://t.co/3jLj589lLT

β€” β‚Ώullish Dipper πŸš€πŸš€ (@crypto_dipper) 24 Zhovtnia 2018 R.

“More tablconv β€” less Tether”

The user Jordan was upset that he didn’t get a of this amount, at least 5 million USDT:

Damn you could have burned 495M and transfer 5M to me ☹this

β€” Jordan (@Jordan80739220) 24 Zhovtnia 2018 R.

ForkLog previously reported that amid the emergence of new tablconv capitalization Tether is gradually reduced.

Source