USDt market cap hits $160B, cementing its ‘digital dollar’ role: Tether CEO

Key Points

1. Tether's USDt stablecoin surpassed a $160 billion market cap, marking a significant milestone and confirming its dominance as a digital dollar.

2. USDt is used by over 400 million people worldwide, growing by 35 million wallets each quarter, particularly in emerging markets where it serves as a dollar substitute.

3. Tron hosts the largest USDt supply at $81 billion, followed by Ethereum with $65 billion, while other blockchains like BNB Chain, Solana, and Polygon have significantly smaller shares.

4. USDt is backed primarily by cash and short-term US Treasurys, with Tether holding over $127 billion in US Treasurys as of Q2 2025, ranking as the 18th largest global holder.

5. Tether has been consistently minting new tokens, including a recent $1 billion issuance, and will stop USDt redemptions on five legacy blockchains starting September 1.