Tether Claims 'Largest Inaugural Financial Audit' as KPMG Signs Off on 2025 Statements
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Tether burned 2.5 billion USDT on Ethereum in a single day, the largest single-day destruction since February.
According to Mars Finance, on July 8th, CryptoQuant, citing on-chain data analysis, reported that on July 7th, the Tether Treasury burned $2.5 billion worth of USDT on the Ethereum network, the largest single burn on the network since February this year. This surpasses the $2 billion burn on May 8th and is second only to the historical high of $3.5 billion on February 10th. Simultaneously, the USDT balance flowing in and out of Binance via the Tron network fell to approximately $806 million, the lowest level since December 29th, 2025 ($391 million), falling below the $1 billion mark, indicating a significant contraction in USDT liquidity through the Binance Tron channel. While the large-scale burn by the Tether Treasury primarily reflects redemptions, fund management, or cross-chain rebalancing operations, it is not a direct market signal. However, the simultaneous contraction in Ethereum supply and Binance Tron liquidity warrants continued monitoring to see if the trend of synchronized tightening of liquidity in both stablecoin chains continues.
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