The Merge Week: Tether (USDT) Backs Ethereum’s Proof-Of-Stake Upgrade

Summary: USDT issuer Tether supports Ethereum’s upcoming proof-of-stake transition. Tether stressed only ETH PoS would receive backing. Support for hard-forked proof-of-work Ethereum chains seems unlikely at press time. The top two stablecoins have declared full support for the Merge. Other protocols like Chainlink and exchanges like Coinbase have announced similar decisions. Tether, the digital asset firm behind crypto’s largest stablecoin USDT, is all in on Ethereum’s landmark transition from a proof-of-work consensus mechanism to a proof-of-stake blockchain network. The USDT […]