Tether, the leading force behind USDT, the most widely used stablecoin globally, created an additional $2 billion USDT on July 16, utilizing the Ethereum network.
Paolo Ardoino, CEO of Tether, announced the creation of these new USDT tokens via a post on X. He specified that this issuance is intended as a “replenishment of inventory” on the Ethereum blockchain. These funds are earmarked for upcoming issuances and chain swaps, indicating they will not be immediately available in the open market.
Notably, $1 billion of this newly minted USDT was directly transferred to Binance, which is recognized as the world’s largest cryptocurrency exchange based on trading volume.
This substantial transaction potentially signals increased activity within the cryptocurrency markets, especially in light of Bitcoin achieving a new record high above $120,000.
USDT is vital within the digital asset sphere, providing necessary liquidity and stability for trading on both centralized and decentralized platforms. Official figures from Tether reveal that they have issued $4.4 billion USDT within the past month.
Tether’s USDT Supply Exceeds $160 Billion
Thanks to this recent minting activity, Tether’s total market capitalization has reached an unprecedented peak of over $160 billion.
Ardoino celebrated this achievement on X, describing it as proof of USDT’s practical application, particularly within emerging and developing economies.
According to Ardoino:
“[This is] 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.”
Company data indicates that Tether has issued over $74 billion USDT on the Ethereum blockchain and $81 billion on the Tron network. They also maintain a presence on other blockchains, including $2 billion on Solana, $530 million on TON, and $480 million on Avalanche, although in smaller quantities.
Tether has consistently assured the public that all issued USDT tokens are fully backed by reserves.
During the second quarter of 2025, Tether stated that their exposure to US Treasuries exceeded $127 billion. This encompasses direct holdings, indirect holdings through money market funds, and reverse repurchase agreements.
This large holding means that if Tether were a sovereign nation, it would hold the 18th-largest amount of US government debt.