Key Highlights
- After a long, hard stare at their spreadsheets, Tether decided CNH₮ wasn’t worth the coffee stains anymore.
- One year to redeem your tokens-because who needs drama when you can have deadlines?
- Low usage? More like low interest. CNH₮ was the “try-hard” cousin of stablecoins.
Tether, the kingmakers of USD₮, just dropped the mic on its offshore yuan stablecoin, CNH₮. Turns out, even crypto gods get bored of their side projects. An internal review (read: someone finally checked the numbers) concluded the token wasn’t worth the effort of keeping it alive.
Effective immediately, new CNH₮ tokens are off the menu. Redemption support? It’s on a one-year “gradual exit” plan-because Tether wants to make this as dramatic as a reality TV finale.
Two-Step Tango of Goodbye
Tether has stopped minting CNH₮ like it’s stopping a toddler from eating glue. Current holders get a full year to redeem their tokens before services vanish. Think of it as a “last chance” sale, but for digital money.
The company promises a reminder before the deadline, because abandoning users without warning is apparently “bad form.” Convert your CNH₮ soon, or watch it fade into crypto legend.
Why?!
Tether blamed “low usage” and “limited demand.” Translation: CNH₮ was the stablecoin equivalent of a group chat no one replies to. Maintaining it cost more than it brought in-because nothing says “success” like a financial product that’s basically a glorified savings account for the yuan.
Designed to track offshore yuan, but let’s face it: CNH₮ was always the underdog. While USD₮ was busy being huge, CNH₮ was probably asking, “Why does no one love me?”
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2026-02-21 18:54