Tether supply drops $6.6 billion in 60 days, outpacing the post-FTX decline

Tether’s supply contracted by $6.6 billion over 60 days, a decline larger than the drawdown that followed the FTX collapse, according to Crypto Briefing. The drop points to tightening stablecoin liquidity and reduced dollar-token float across crypto markets. The comparison with the post-FTX period matters because Tether is the largest stablecoin by market cap and a core funding asset for trading and DeFi activity. Traders will watch whether the contraction continues, whether USDC and other stablecoins absorb the outflow, and whether weaker stablecoin supply weighs on spot volumes and on-chain liquidity.