World Liberty Financial USD1 Stablecoin Loses $400 Million in Market Cap

TL;DR USD1’s market capitalization fell from $4.43 billion to $4.02 billion in two weeks, a decline of approximately 9.1%. Ethereum and BNB Chain recorded around $385 million in redemptions. A single unidentified address redeemed nearly $200 million on BNB Chain. The stablecoin maintained its dollar peg throughout the period analyzed, despite the reduction in its circulating supply. World Liberty Financial’s USD1 stablecoin lost approximately $400 million in market capitalization over the past two weeks, following a series of large redemptions primarily on Ethereum and BNB Chain. According to CoinGecko data, its market capitalization fell from $4.43 billion on October 6 to approximately $4.02 billion , a decline of around 9.1% . Meanwhile, World Liberty Financial’s proof-of-reserves dashboard reported approximately $4.01 billion in backing assets .

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