bank for international settlements reveals tether issuance stalled

By Michael FawnThe assumption that rising stablecoin issuance automatically translates into increased capital flowing into decentralized finance (DeFi) has been challenged by recent data from the Bank for International Settlements (BIS). A working paper published on September 15, 2026, revealed that while the total supply of Tether’s USDT on the Ethereum blockchain expanded significantly throughout 2024, the proportion of that supply held by smart contract accounts stalled and ultimately d