Jacob King: Tether market cap plunges by $1.1 billion in record single-day drop

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Tether sees record $1.1 billion decline

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Jose Antonio Gastelum

01.06.2026

Jacob King: Tether market cap plunges by $1.1 billion in record single-day drop — Tether sees record $1.1 billion decline

Jacob King, CEO at WhaleWire, highlights that Tether's market cap has dropped by more than $1.1 billion in a single day, marking its largest decline ever.

King argues that the broader crypto market is heavily dependent on stablecoin-driven liquidity, and with this liquidity now contracting, he sees significant downside risk for the sector.

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King has previously reported on Wall Street’s pullback from Bitcoin, with spot ETFs seeing $70.5 million in outflows led by BlackRock. In a separate report, he detailed how an AI tool was used to recover a lost $400,000 BTC wallet. The recent Tether market cap decline comes amid these other shifts in crypto-related assets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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