- Tether minted $2B in new USDT on Ethereum, with $1B sent to Binance amid surging trading activity.
- USDT’s market cap has crossed $160B, with significant issuance on Ethereum and Tron.
- Tether now holds over $127B in U.S. Treasury exposure, ranking 18th globally if it were a nation.
Tether, the issuer of the largest stablecoin in the world, minted an additional $2 billion worth of USDT on July 16, further boosting its role as crypto’s liquidity backbone. CEO Paolo Ardoino clarified that the mint was part of an “inventory replenish” process, meaning the tokens aren’t immediately entering circulation but will be used for future issuance and blockchain swaps.
A substantial $1 billion chunk of this new USDT batch was sent to Binance, pointing to a spike in trading activity across the crypto market, especially after Bitcoin’s latest breakout past $120,000. Tether’s aggressive minting comes amid heightened demand for liquidity on exchanges, as traders reposition around new all-time highs.
USDT Supply Hits Record $160 Billion as Adoption Surges
This latest move brings Tether’s total market cap above $160 billion for the first time, setting yet another record. Ardoino called it a “mind-blowing milestone,” highlighting USDT’s utility across developing economies where it increasingly acts as a digital dollar alternative.
According to Tether’s own data, $74 billion of the total USDT supply has been issued on Ethereum, with another $81 billion on Tron. Smaller but growing footprints include Solana ($2B), TON ($530M), and Avalanche ($480M), showing Tether’s push toward multichain expansion.
Tether’s Treasury Holdings Could Rival Nations
In terms of backing, Tether continues to emphasize its reserves are fully collateralized. The company revealed that as of Q2 2025, it holds over $127 billion in exposure to U.S. Treasurys through direct holdings, money market funds, and reverse repo agreements. That would place Tether as the 18th-largest foreign holder of U.S. debt—higher than many countries.
This scale of exposure and market penetration underscores USDT’s dominance not just in crypto, but in global financial flows, particularly in regions underserved by traditional banking infrastructure.
