Person holding cellphone with logo of Tether Operations Limited on screen in front of business webpage. Source: Timon - stock.adobe.com

Key Takeaways:

Tether’s USDt has surpassed a $160 billion market cap, with over half its supply on the Tron blockchain and growing use in emerging markets.
Tether holds $127 billion in US Treasurys and made over $1 billion in Q1 profit, placing it among the top 20 global holders of US debt.
USDt redemptions will end on five blockchains by September 1 as Tether shifts focus to scalable networks with stronger ecosystems.

Tether’s USDt stablecoin has surpassed a $160 billion market cap, cementing its position as the top digital dollar.

CEO Paolo Ardoino hailed the milestone as proof of USDt’s vital role in emerging markets, where it serves as a reliable alternative to the US dollar.

160B USDt

A new mind-blowing milestone, a statement of the unrivaled utility of USDt as the digital dollar for billions of people living in emerging markets and developing countries.

Thanks for your support ♥️
— Paolo Ardoino 🤖 (@paoloardoino) July 16, 2025

Over 400 million people use USDt globally, with wallet adoption growing by 35 million each quarter.

Most of the supply is hosted on the Tron blockchain ($81B), followed by Ethereum ($65B), with smaller shares on BNB Chain, Solana, and Polygon.

Tether’s reserves are 81.5% cash and equivalents -mainly short-term US Treasurys – and 5.1% Bitcoin.

It now holds over $127 billion in Treasurys, ranking among the top 20 global holders.

In Q1 2025, Tether reported over $1 billion in profits and has minted over $4 billion in USDt in the past week alone.

Tether plans to end USDt redemptions on five older blockchains, including Omni and Algorand, to focus on more scalable networks.

Meanwhile, the stablecoin market continues expanding, with legislative efforts like the GENIUS Act pushing for regulatory clarity amid record transaction volumes.