Key Takeaways
- Tether minted $2 billion USDT on Ethereum, pushing its total supply past $160 billion.
- $1 billion of the new USDT was sent to Binance as bitcoin hit a new all-time high.
- Tether's reserves now include over $127 billion in US Treasurys, making it a top global debt holder.
Tether, the world’s largest stablecoin issuer, has minted $2 billion in USDT on the Ethereum blockchain, bringing its total supply to a record high above $160 billion.
Surge follows bitcoin rally
The latest minting comes as bitcoin reached a new all-time high above $120,000, signaling intensified trading activity across major exchanges.
Of the newly created USDT, $1 billion was sent directly to Binance, the largest global exchange by trading volume.
Tether CEO Paolo Ardoino clarified that this mint is an “inventory replenish” for future issuance and blockchain swaps, not an immediate injection into circulation.
Tether’s expanding reach
Tether’s USDT now boasts more than $74 billion issued on Ethereum and $81 billion on Tron, with additional growth on chains like Solana, TON, and Avalanche.
The company has issued $4.4 billion in USDT over the past month alone, underscoring its pivotal role in providing liquidity and trading stability across both centralized and decentralized platforms.
Paolo Ardoino celebrated the milestone on X:
“[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.”
Reserves and backing
Tether emphasizes that its tokens are fully backed.
In Q2 2025, the company reported over $127 billion in exposure to US Treasurys, including direct holdings, money market funds, and repo agreements.
This would make Tether the 18th-largest holder of US government debt if it were a country.
Market implications
The rapid growth of USDT supply is closely tied to bitcoin price history and broader market trends, as stablecoins continue to play a critical role in facilitating liquidity and trading volume throughout the digital asset ecosystem.
