I just found out that Tether is shutting down its stablecoin CNH. Apparently, it will stop issuing new tokens immediately and has one year to complete redemptions. The reason given is quite clear: demand simply isn't there, people aren't using it enough, and operational costs don't justify keeping it alive. I guess the offshore Chinese yuan CNH never took off as they expected. Those who still have tokens have time to redeem them, but the recommendation is to do so quickly before it completely closes. It's interesting how some projects just don't find their place in the market, isn't it?