Tether, the issuer of the stablecoin USDt, has decided against launching its own blockchain, citing a saturated market as the primary reason. Tether CEO Paolo Ardoino stated that blockchains will become almost a commodity in the future, which influenced their decision. Additionally, Tether is currently facing a $2 billion lawsuit from Celsius Network, which accuses Tether of illegally selling off Bitcoin collateral. Tether has dismissed the lawsuit as 'pure nonsense' and a 'shameless' attempt at litigation, expressing confidence that the court will dismiss the claims.