USDt market cap hits $150B for first time as Tether eyes US expansion

Quick Summary:

Against this backdrop, Tether is planning to enter the US with a new dollar-backed stablecoin later this year.“A domestic stablecoin would be different from the international stablecoin,” Tether's CEO, Paolo Ardoino, reportedly said on the sidelines of the Token2049 conference in Dubai, United Arab Emirates. According to a CNBC report, Tether is increasing lobbying efforts in Washington as US lawmakers consider several stablecoin-related bills, including the STABLE Act, introduced by House Financial Services Committee Chair French Hill and Digital Assets Subcommittee Chair Bryan Steil.

It’s followed by Circle’s USDC (USDC), which accounts for nearly 25% of the stablecoin market. As the world’s largest stablecoin, Tether is widely viewed as a barometer for cryptocurrency demand, given its central role in providing liquidity and funding for crypto trading.

Tether is part of a broader trend toward digital fiat currencies, with recent data from Dune and Artemis showing that the number of active stablecoin wallets has surged more than 50% over the past year, from 19.6 million to 30 million.

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Article Details

Author / Journalist: Cointelegraph by Sam Bocetta

Category: Crypto

Markets: United StatesUnited Arab Emirates

Topics: Supply Stablecoin Digital Usdt Year Massad Circulating House Market Tether Chair

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-12 @ 20:02:32 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 396 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28629191

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Main Topics: Crypto

Official Website: cointelegraph.com

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