Crypto updates: stUSDT winds down, MegaETH cuts staff and OpenAI launches AI payments

The cryptocurrency and artificial intelligence sectors experienced significant developments today involving protocol shutdowns, workforce reductions and new payment integrations. In the decentralized finance space, the real-world asset protocol stUSDT has started winding down operations nearly three years after reaching a peak total value locked of $2.3 billion.

Interest accrual for stUSDT ended recently, and tokenholders now have until May 2027 to redeem their assets through the official portal. JustLend DAO announced it will phase out supply and borrowing functions for the wstUSDT market during the transition. Launched in July 2023 on the Tron network, stUSDT allowed users to deposit USDT to earn yields from investments including short-term government bonds before expanding to Ethereum. Protocol data shows its total value locked fell from a peak of roughly $2.3 billion in late 2023 to about $8.6 million. Stablecoin issuer Tether previously stated it has no affiliation with the project.

Here what's cookin in tech and blockchain

Simultaneously, the organization behind the Ethereum layer-2 network MegaETH, known as MEGA, reduced its staff by 20 percent following months of internal restructuring. Co-founder Shuyao Kong stated that the cuts affected employees who contributed to the blockchain, wallet, ecosystem support and communications. The workforce reduction coincides with a strategic shift toward developing artificial intelligence products on the network, backed by a $30 million commitment. MegaETH co-founders published a whitepaper detailing a proposed inference market, with a public launch targeted for December.

Real-world asset protocol stUSDT winds down operations while MegaETH restructures and OpenAI launches AI payments.

In the artificial intelligence sector, OpenAI released a new feature enabling AI agents to make purchases within ChatGPT using existing payment networks including American Express, Mastercard and Visa. The system utilizes biometric verification and tokenized card credentials to protect user details from merchants and autonomous agents during checkout.

Why it matters

These concurrent developments highlight shifting priorities across the blockchain and artificial intelligence landscapes. The winding down of stUSDT and the phasing out of its related markets mark a notable contraction for a once prominent decentralized finance protocol. Meanwhile, corporate workforce adjustments at MegaETH illustrate how infrastructure providers are reallocating resources toward artificial intelligence initiatives. OpenAI's integration of secure AI payments points toward a future where automated agents actively execute online transactions.