Tether Burns Half a Billion USDT Coins in an Act of Redemption

In their recent blog post, Tether, the parent company of a USDT stablecoin, announced a token burn that will permanently eliminate 500 million units.
Yesterday, the company announced that the burning process had been completed.Tether has just destroyed 500M USDt from the Tether treasury wallet with the following tx: https://t.co/HTG52LaRVhFor more information see the announcement here: https://t.co/McLTCGzmJi
— Tether (@Tether_to) October 24, 2018Why Did Tether Burn Half a Billion Coins?
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