What changed
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 Read the full story on Crypto Slate Understand the crypto stories that matter and what to watch next
Why it matters
Exchange operations around USDT and USDC can change volatility, liquidity, or sentiment. The concrete detail to watch is tether loses nearly $5 billion across crypto exchanges as USDC and RLUSD rivals pay to win liquidity
Trading lens
Use this as watchful context from cryptoslate.com. Watch whether crystal’s selected cohort cut USDT balances in Q3, while Allium assigns it 84% of January–September 2026 classified payment value confirms momentum, invalidates active bias, or changes timing.