Tether has recently minted an additional $2 billion USDT on the Ethereum blockchain on July 16, reaffirming its position as the largest stablecoin issuer in the world.
CEO Paolo Ardoino confirmed the mint through a post on X, stating that the new USDT tokens were specifically designated for inventory replenishment on Ethereum, indicating future issuance and blockchain swaps rather than immediate circulation.
Notably, $1 billion of the newly minted supply was swiftly transferred to Binance, the leading global cryptocurrency exchange, hinting at heightened trading activities across various crypto markets, particularly following Bitcoin’s surge to a new all-time high above $120,000.
USDT remains a crucial player in the crypto ecosystem by providing liquidity and trading stability across both centralized and decentralized platforms. Recent data from Tether reveals that $4.4 billion in USDT has been issued in the past month alone.
Tether’s USDT market cap surpasses $160 billion
The latest round of minting has propelled Tether’s total market capitalization to a record-breaking level exceeding $160 billion.
Ardoino celebrated this achievement as a testament to USDT’s practical utility, particularly in emerging and developing markets, stating:
“[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.”
Tether’s dominance extends beyond Ethereum and Tron, with significant holdings on other chains such as Solana, TON, and Avalanche. The stablecoin company emphasizes that all issued tokens are fully backed, with over $127 billion in exposure to US Treasurys reported in Q2 2025.
If Tether were a country, its holdings would rank it as the 18th-largest holder of US government debt, underscoring its substantial impact in the financial landscape.
