USDT supply sees largest monthly drop since FTX collapse

The supply of USDT, the world's largest stablecoin, has fallen by approximately 1.7% over the past month, marking the largest monthly contraction since the collapse of FTX, according to an analysis by Solid Intel. The firm noted that the supply is decreasing rapidly amid the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation and a broader market downturn.