Tether’s On-Chain Footprint Hits 40% of All Fees Following Supply Surge to $104 Billion

Key Points

1. Tether CEO Paolo Ardoino stated that USDT transfers now make up 40% of all blockchain fees, underscoring its dominance in the on-chain economy.

2. Tether's market capitalization surpassed $100 billion in early 2025, reaching approximately $104.1 billion in Q1 2025.

3. The company reported a net profit of $5.7 billion in the first half of 2025 and holds around $98 billion in U.S. Treasury bills, making it one of the largest institutional holders of U.S. debt.

4. USDT's high fee generation is attributed to its widespread use in emerging markets and low transaction costs on networks like Binance Smart Chain.

5. Legislative proposals such as the U.S.'s GENIUS Act (passed July 2025) aim to regulate stablecoins, while Tether plans to expand its strategy, including launching its own blockchain.