Tether officially hits 500 million users with $182 billion USDT in circulation

Tether CEO revealed on Tuesday that USDT has reached 500 million users, marking its upward trajectory since its launch in ￰0￱ believes that the milestone is a testament to the real-world impact of USDT on global financial ￰1￱ has been making efforts to expand digital dollar access in emerging markets, where USDT helps in remittances and payments in developing ￰2￱ stablecoin issuer has also maintained efforts for USDT grassroots adoption, engaging with communities to integrate the stablecoin into everyday financial ￰3￱ plans to launch another dollar-backed stablecoin Bloomberg reported last month that Tether is planning to raise approximately $20 billion at a valuation of around $500 billion, representing about 3% of the ￰4￱ initiative would make the stablecoin issuer one of the most valuable private companies globally, alongside high-tech companies like OpenAI and SpaceX.

On-chain data revealed that USDT’s stablecoin supply is at around $182 billion. Circle’s USDC follows with about $75 billion of stablecoin in circulation. “Programmable money is the ultimate social network. A peer-to-peer construct that transports both information and value.” – Paolo Ardoino , Founder and CEO of ￰5￱ previously reported that Tether, based in El Salvador, plans to launch a dollar-backed stablecoin, USAT, designed for the ￰6￱ Hines, CEO of Tether’s newly-established U.

S. arm, mentioned at a conference in Seoul that the company doesn’t plan to raise money for the initiative. Instead, the transaction would include new equity rather than existing investors selling their shares to raise ￰7￱ El Salvador-based firm has faced scrutiny for not providing a full independent audit on its stablecoin balance sheet, but has released quarterly attestations signed by BDO ￰8￱ hinted that obtaining a review from the top audit firms, including Deloitte, EY, PwC, or KPMG, is a top priority for the ￰9￱ also reported a record quarterly net profit of $4.9 billion in Q2, surpassing its previous net profit record of $4.52 billion set during the first quarter of ￰10￱ stablecoin issuer maintained that it’s among the largest holders of ￰11￱ debt globally, and its milestone also followed the U.

S.’s decisive steps to establish stablecoin rules through the introduction of the GENIUS ￰12￱ legislation expands USDT’s presence Ardoino was present as ￰13￱ Donald Trump was signing the stablecoin legislation, which creates a federal regulatory framework for fiat-pegged ￰14￱ bill requires stablecoins to be fully backed by ￰15￱ or similarly liquid assets, and it also mandates annual audits for issuers with a market capitalization exceeding $50 ￰16￱ new stablecoin legislation has led more traditional banks to start planning the launch of their own dollar-backed digital ￰17￱ institutions co-owned by JPMorgan, Bank of America, Citigroup, and Wells Fargo are among the top traditional banks threatening Tether’s dominance in the stablecoin ￰18￱ told Bloomberg that those competitors might surpass Tether in the short term in the U.

S., but he believes that the USDT issuer has better ￰19￱ argued that Tether has a much better understanding of the stablecoin market than any other company. Tether’s CEO also maintained that the firm does not plan to go public like its competitor, ￰20￱ has had a different trajectory in Europe after the implementation of the European Union’s Markets in Crypto-Assets (MiCA) ￰21￱ regulation instructed exchanges across the region to stop offering stablecoins that are not compliant with the new rules by April ￰22￱ rules affected Tether’s USDT since it doesn’t meet MiCA’s regulatory ￰23￱ European Securities and Markets Authority (ESMA) allowed stablecoin issuers to use their digital assets for a limited period until March ￰24￱ initiative led to major exchanges removing USDT pairs, causing its market share to drop from 70% in November 2024 to nearly 60% by October ￰25￱ your project in front of crypto’s top minds?

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