PANews, February 21: Tether officially announced a strategic adjustment and discontinuation of support for the CNHT product to better focus on community-driven core offerings. Effective immediately, Tether will cease all new CNHT issuances and will no longer mint additional tokens. One year after this announcement, support for CNHT redemptions will be terminated, with a separate reminder notice to be issued prior to the redemption deadline. Tether stated that this decision is based on changing market conditions, low product interest, and limited ongoing community demand compared to other assets, as the current scale of CNHT usage is insufficient to justify the operational costs required to maintain the same standards as other products. Until the redemption deadline, Tether will continue to process CNHT redemption requests in accordance with its terms of service. The official recommends that users holding CNHT on supported blockchain networks complete their redemptions as soon as possible.
Tether to Discontinue Support for CNHT: Halts New Issuance and Ends Redemption Within One Year
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Summary
Tether announced a project update regarding its CNHT product, confirming it will immediately cease issuing new tokens. Redemption will end in one year, with a reminder sent prior to the deadline. Tether cited low demand and high costs as the reasons. Users are advised to redeem their CNHT tokens before the cutoff. This change impacts new token listings on platforms such as KuCoin.
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