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. That keeps the number of tokens in circulation in line with the dollars backing them. Burns typically run through Tether’s Treasury address.

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