Tether loses nearly $5 billion across crypto exchanges as USDC and RLUSD rivals pay to win liquidity
Crystal’s selected cohort cut USDT balances in Q3, while Allium assigns it 84% of January–September 2026 classified payment value.
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source https://cryptoslate.com/tether-loses-nearly-5-billion-across-crypto-exchanges-as-usdc-and-rlusd-rivals-pay-to-win-liquidity/
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