Tether torches $2B in USDT on Ethereum in one burn

Tether just set $2 billion worth of USDT on fire — on Ethereum, according to Cointelegraph. The stablecoin issuer burned the tokens in one shot, pulling them permanently out of circulation.

A burn means exactly what it sounds like. The tokens get sent to an address nobody can ever spend from, and the supply shrinks by that amount for good. There is no undo button.

USDT is the heavyweight of stablecoins, and it runs across a spread of blockchains rather than just one. This particular burn landed on Ethereum, still one of the busiest venues for the dollar-pegged token.

Stablecoin issuers burn tokens routinely to manage supply, so a move this size is more about scale than surprise. The headline number — $2 billion — is what makes it worth a second look.

Watchers will now keep an eye on USDT's circulating supply on Ethereum to see how the burn shakes out in the totals. For now, $2 billion in tokens are gone and not coming back.