Tether Dumps CNH₮: No One Wanted It Anyway, LOL!

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Well, well, well. Looks like Tether’s CNH₮ has gone the way of your New Year’s resolution to “actually use that gym membership.” Yup, it’s officially toast. Citing “low demand” and “limited community adoption,” Tether has decided to pull the plug on its offshore yuan stablecoin. Shocking? Not really. Surprising? Only if you thought anyone was actually using it.

  • CNH₮ minting? Dead. Like your hopes for a stress-free Monday.
  • Redemptions? Open for a year. Plenty of time to say goodbye… or forget about it entirely.
  • Resources? Shifted to USDT. Because, let’s face it, that’s where the party’s at.

So, no more new tokens, but hey, you’ve got a whole year to redeem your CNH₮ before it turns into digital confetti. Tether promises a “reminder notice,” which is basically the crypto equivalent of your mom texting, “Are you still alive?”

Apparently, CNH₮’s usage levels were about as impressive as your attempt at keto. Tether’s standards? High. CNH₮’s performance? Not so much. Hence, the axe.

Holders, take note: Redeem those tokens ASAP. Unless you enjoy holding onto things that are about as useful as a screen door on a submarine.

The Two-Phase Farewell Tour: Because One Goodbye Isn’t Enough

Tether’s breakup strategy is about as dramatic as a reality TV show. Phase one: Stop minting new tokens. Phase two: Pull the redemption plug after a year. It’s like a bad relationship-you know it’s over, but they still want to “talk” for another 12 months.

A reminder notice will come, because Tether cares… or at least wants to avoid the crypto version of a restraining order. Plenty of time to exit gracefully, or panic-sell like everyone else.

CNH₮ was supposed to be the cool kid pegged to China’s offshore yuan. Instead, it ended up being the kid who sits alone at lunch. International traders? Not impressed. Institutions? Hard pass.

The offshore yuan trades separately from the onshore yuan, which is basically the crypto equivalent of “We’re not together, we’re just… complicated.”

Tether’s Midlife Crisis: Pivoting to What Actually Matters

Tether’s now focusing on stablecoins that people, you know, actually use. USDT? Still the prom queen with a $185 billion market cap. CNH₮? The kid who got detention for sleeping in class.

The plan? More liquidity, more tokenization, more financial tools. Basically, everything CNH₮ wasn’t. Ouch.

Oh, and let’s not forget Tether’s recent data breaches. Because nothing says “trust us” like accidentally sharing customer info. HQ in El Salvador, base in Switzerland-it’s like they’re trying to confuse the tax authorities.

Workforce? Up to 300 employees, with plans to add 150 more. Mostly engineers, because someone’s got to fix all the things they’ve broken. Or build new things to break. Tomato, tomahto.

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2026-02-21 16:54