The Tether company has embarked on crisis management of sorts by retiring more USDT to the storage wallet, thus decreasing the number of coins in circulation. While new USDT were minted and added to the supply in the past months, now the treasury is mopping up the unwanted coins, with the wallet absorbing 250 million USDT on Tuesday.

As of October 16, the Tether Treasury holds 736,678,763 USDT, second only to Binance with around 760 million USDT. In the past days, the refilling of the treasury follows a distinct pattern – USDT coins landed on Bitfinex and were then sent from the exchange wallet back into the custody of Tether. Thus, the organization is decreasing the outst…

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