Tether USDT supply drops $1.5B in February after MiCA curbs, first decline since 2022

By February 20, 2026, Tether's USDT had fallen by about 1.5 billion dollars this month, after supply peaked near 187 billion dollars in early January and slipped below 184 billion on February 18. The pullback follows MiCA-related restrictions across Europe and exchange delistings, while USDC's supply has grown nearly 5 percent to roughly 75.7 billion dollars.