Tether’s USDt stablecoin has surpassed a market cap of $160 billion, asserting its status as the digital dollar. Tether CEO Paolo Ardoino hailed this achievement on social media, illustrating USDt's growing significance, particularly for populations in emerging markets. Ardoino noted that USDt is utilized by over 400 million individuals globally, with a quarter-on-quarter increase of 35 million wallets, primarily serving as a reliable dollar alternative. The distribution of USDt shows Tron dominates with about $81 billion in circulation compared to Ethereum's $65 billion. Additionally, 81.5% of USDt's backing consists of cash and short-term US Treasurys, with Tether holding over $127 billion in US Treasurys as of Q2 2025. Tether's recent activities include the minting of new tokens, with over $4 billion added in the past week. Amidst a growing stablecoin market, regulatory developments led by the Trump administration are also taking shape, particularly around the GENIUS Act, aimed at formalizing stablecoin regulations.

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