World Liberty's USD1 stablecoin loses $400 million in market cap over two weeks

World Liberty Financial's USD1 stablecoin market capitalization fell by over $400 million in two weeks, declining from $4.43 billion to $4.02 billion. Nearly $200 million in BNB Chain redemptions originated from a single unidentified address, while over 99% of Ethereum redemptions passed through BitGo, USD1's issuer and custodian. Despite the supply contraction, USD1 maintained its dollar peg, trading between $0.998 and $1.000.