Tether ends support for CNHT amid market changes

Tether announced in its latest strategic decision that it is discontinuing support for its product CNHT. According to PANews, Tether will immediately cease all new issuances of this token, signaling a significant shift in its business strategy.

Specific Timeline for Cessation and Reduction of New Issuances

Tether is halting all new issuance of CNHT, with support for buyback operations ending one year after the announcement. Users will be informed of the exact date when reverse operations will end through a prior notification reminder. Until the effective date, Tether will continue to process all legitimate redemption requests for CNHT in accordance with applicable terms of service to ensure a smooth transition for token holders.

Reasons Behind Portfolio Restructuring

Tether’s decision was influenced by three main factors. First, market interest in the product has declined, indicating weak reception compared to other Tether assets. Second, changes in market conditions have made maintaining the product less relevant. The key factor is also limited community demand — Tether found that the current usage of CNHT does not justify the administrative burden required to maintain the same security and operational standards as its other products. This analysis led to the conclusion that redeploying resources would be a more effective strategy.

Practical Advice for CNHT Holders

Users currently holding CNHT on supported blockchain networks are advised to initiate the redemption process without delay. Tether emphasizes the need for prompt action, as future buyback options will be time-limited. The process will be carried out in accordance with standard terms of service available to users.