World Liberty Financial's $USD1 stablecoin has contracted substantially in October. CoinGecko data cited by Cointelegraph put its market capitalization near $4.02 billion on October 19, down from roughly $4.43 billion on October 6, a decline of about $401 million. OnChain Benchmark measured $385.03 million in net redemptions across Ethereum and BNB Chain between the October 6 and October 15 closes. Ethereum accounted for $184.60 million and $BNB BNB Chain for $200.43 million. Solana supply was unchanged in that period. Researchers could not identify the holders behind a concentrated set of BNB Chain redemptions.Importantly, this was a reduction in circulating supply, not a verified loss of reserves or a depeg. The research found $USD1 trading between $0.998 and $1.000.