Tether Limited on 24. October known that you have burned 500 million of your Token. The Deletion of the 500 million units of the Stable Coins follows an announcement by the company on their Homepage.

Since the 24. October, there are 500 million USDT less on the market. The Burning of the Token Tether Limited announced on their Twitter Page:

In the corresponding blog post, the company says:

„In the course of the last week of the Tether has redeemed a significant portion of USDT from the Token. In this connection, Tether 500 million USDT from the Tether Treasury will destroy the Wallet, and the rest of the USDT (about 466 million) as a preparatory measure for future USDT emissions in the Wallet left.

Conceptually, will be described the USDT-issue and redemption process in the White Paper, the issues and redemptions by the observation of the USDT – Treasury balance on the OMNI-Blockchain visible.“

This means, ultimately, that the last time someone decided not to have a high number of Stable Coins to redeem. A reminder: anyone Who has the USDT, has at the same time receive the promise of the company for each USDT a „real“ US dollars. As soon as this promise is demanded, must burn, the company, the corresponding amount of tokens „“ or dissolve.

Tether burn – How does it work?

This works as follows: as soon As someone swaps USDT in Fiat, the Omni-Protocol, the corresponding number of tokens. The metadata also stores the log in a transaction on the Bitcoin Blockchain. Conversely, the principle is the same: If someone calls his US dollars back, clears the Omni Protocol, the Token and stores metadata about them on the Bitcoin Blockchain.

What does this mean?

In the end, that means, ultimately, is just 500 million dollars to someone (an individual, a company and/or multiple persons) has been paid. Since the Tether-course on the stock exchanges is under a Dollar, it means that someone (an individual, a company and/or several people) with the money now, Arbitrage the price difference so might take advantage of. Exactly how this works is here.