I would advise you to burn the tread with a lighter. There will be a mini flame and immediately push the tread on thet leather with the iron side of the lighter. This is the way most leather workers end their stitching. This way you prevent that the stitching get looser ore getting stuck on things.
That sounds like the right thing to do..except I think I’m not brave enough. I brought the wallet with me travelling and I will have to take a closer look in a future video to see how much looser it got.