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On June 17, Tether announced the phased closure of Alloy by Tether and aUSDT, a dollar-denominated asset backed by the XAUt token. Existing customers were given three months to return their aUSDT and withdraw their collateral.
Tether explained the closure as a result of a review of user activity, market demand, and the company's priorities. They intend to focus resources on XAUt and other leading products in the ecosystem.