Cryptocurrency investors and traders have cashed out $7.7 billion from the stablecoin Tether (USDT), resulting in its market capitalization falling by 7.8% over the past seven days to $76 billion.
The amount withdrawn from the top stablecoin is nearly double the $4.1 billion it held in cash reserves at the end of 2021, according to Tether’s latest reserves report from December 2021.