USDT (Tether stablecoin) supply drops ~1.7%—largest since FTX (failed crypto exchange) collapse

The decline coincides with the European Union (EU regional bloc) implementing MiCA (crypto-asset regulation) during a broader crypto market downturn; stablecoin supply typically contracts when redemptions (swapping tokens for dollars) exceed new issuance.

USDT

55d ago

Summary

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Terms & Concepts

USDT (Tether stablecoin): A U.S. dollar–pegged stablecoin widely used for trading and transfers on crypto exchanges.
MiCA (crypto-asset regulation): The European Union’s Markets in Crypto-Assets framework setting rules for crypto firms and stablecoin issuers across the bloc.
Redemption (stablecoin): Exchanging stablecoins for fiat currency, which removes tokens from circulation and lowers supply.