Why Is Tether USDT Supply Crashing? Biggest Monthly Drop Since FTX as USDC Surges

2026-02-20 14:02:01

Abstract generation in progress

Story Highlights* Tether’s USDT just recorded its largest supply drop since the FTX collapse, with $1.5 billion leaving circulation in February alone.

The total stablecoin market actually grew during the same period, raising the question: where is the money going?
USDC climbed nearly 5% while USDT contracted.

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