what's tether?
Tether is a leading stablecoin issuer, primarily known for its USDT token, which is pegged 1:1 to the US dollar to provide price stability in the volatile cryptocurrency market. Launched in 2014, Tether operates as a digital asset backed by reserves including cash, cash equivalents, and other assets, enabling seamless transfers and trading on various blockchains like Ethereum, Tron, and Bitcoin. The project aims to bridge traditional finance and crypto by offering a reliable medium of exchange, liquidity for exchanges, and a hedge against volatility. Tether publishes transparency reports on its reserves and supports multiple fiat-pegged tokens, including those for the Mexican peso, offshore Chinese yuan, and gold. It has faced scrutiny over reserve backing but remains the most widely used stablecoin globally, facilitating billions in daily transactions.
Tether's USDTB reserves are 90% in Blackrock's BUIDL; USDT circulates on Tron, Solana, BSC.
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holds 90% of USDTB reserves in Blackrock's BUIDL token, representing approximately one-third of the total BUIDL supply
USDTB supply reached 866M with 161M (18.5%) held onchain in Ethena USDe-related wallets
USDT has $84 billion in circulation on the Tron network.
USDT has $7.5 billion in circulation on the Solana network.
USDT has $8.8 billion in circulation on the BSC network.
USDT has $640 million in circulation on the Aptos network.
Featured as the deposit asset (minimum 150 USDT) in the Kaia x Grvt Community Volume Competition with $15,000 in prizes, running until April 20, 2026 at 23:59 UTC.
Reached 570 million wallets as of March 2026, adding tens of millions per quarter.
Launched The People's Wallet, a self-custodial remittance wallet supporting USDT, USAT, XAUT, Bitcoin across Ethereum, Polygon, Arbitrum, Plasma, Bitcoin/Lightning Network. Features gasless, username-based transfers with $0.00001 fees for 570M users.
Tether CEO Paolo Ardoino attends Donald Trump's cryptocurrency conference and gala luncheon at Mar-a-Lago on April 25, 2026, with 297 attendees including U.S. President.
Included in updated Digital Asset PARITY Act as a regulated stablecoin that could qualify for tax-free transfers if pegged between $0.99 and $1.01 and meeting GENIUS standards.
Listed on BitMEX Spot for deposit, buying, and trading as XAUt (gold-backed token) on 2026-04-14.
Partnered with Zodia Markets for execution, adding USDT support and reducing transaction costs by 30–50% for thBILL product.
Tether Gold (XAUT) will have its seed tag removed on Binance.
Integrated as a payment option for event tickets on Uquid Tickets platform, which launched on TRON network and accepts TRC-20 USDT for purchasing verified tickets to sports, concerts, and live events worldwide.
Dominates stablecoin expansion in Uganda and the broader East African region.
Used as the quoted settlement currency in new spot pairs, margin/CFD products, trading competitions, and promotional giveaways across many exchanges.
Holds 45% of circulating USDT supply on Tron; market cap exceeded $85B in March 2026, representing over 46% of global supply.
Issued $116 million USDT on Plasma network and featured in Santiment's social data report on April 13, 2026.
Hired an executive from JPMorgan to support US stablecoin expansion efforts.
Extended zero-gas transfer support to USDT on Polygon through TokenPocket integration.
Froze $182 million in a single day across five wallets on Tron in January 2026.
Became available for swapping on Chainflip on Solana and Arbitrum networks.
Fellowship PAC, a $100M Tether-linked super PAC, made its first $300,000 ad buy to Nxum Group for 2026 midterm spend. Nxum Group co-founded by Tether US CEO Bo Hines.
Enabled as a payment option for gas fees across EVM chains through Gas Station feature shipped by OKX Web3.
Reached $1.3 trillion in onchain transaction volume year-to-date as of April 2026.
Launched XAUT Streaks in the US on OKX during the week ending April 11, 2026.
Generated $16.17M in protocol fees over 24 hours, ranking as the highest fee-generating protocol.
Delisted from European exchanges after failing to meet MiCA compliance requirements.
USDT adoption is increasing on Hyperliquid.
Ranks first by 7-day fee generation among top 10 crypto entities as of April 9, 2026.
Launched QVAC, an open-source SDK for cross-platform on-device AI and peer-to-peer inference.
CEO visits South Korea and meets with KB Financial, Coinone, and other institutions.
Used as the reward token in SQD's Public Revenue Pool alongside SQD, where participants lock SQD tokens to earn USDT at approximately 9.6% APR.
Accepted as payment for Iran's $1 per barrel transit toll on oil tankers passing through the Strait of Hormuz, alongside USDC and Yuan, during a two-week ceasefire period.
Enabled direct claiming of USDT fees earned from invited friends on the invite page.
Hadron now supports tokenization on Plasma for RWA issuance targeting compliant institutional and innovator use cases.
USDT trading competition with $5,000 prize pool runs from April 7, 2026 21:00 UTC to April 9, 2026 21:00 UTC on Cube Exchange.
Indonesian authorities used onchain USDT transaction trails as evidence to convict three terrorism financiers linked to ISIS-affiliated networks.
Partnered with Swiss-licensed SCRYPT and TON Foundation for institutional USDT access on TON for banks and fintechs.
Transferred $500 million USDT from Binance to Tether Treasury on Tron network.
Transferred $500 million USDT to Binance from Tether Treasury on Solana network.
Launched Hypersearch, a decentralized search engine, expanding beyond stablecoins into broader infrastructure services.
Integrated with Ledger Wallet and Noah_HQ to enable instant conversion from USD or EUR to USDT.
Integrated USDT0 with M0's On-chain Orchestration product via Aori to facilitate clearing between M0-powered stablecoins and USDT, enabling instant transfers on Rootstock.
Froze $1.5B in hacked funds on Avalanche related to the Bybit hack within hours.
Froze $22M in Garantex wallets, which were sanctioned by OFAC since 2022.
Freezes stolen USDT without a judge's order, having frozen $3.3B across 7,268 wallets, including $285M Lazarus Group funds within hours, acting faster and with less procedural friction than Circle in exploit situations.
Partnered with OnRamp Money through Tippikl Labs to allow instant purchasing of USDT directly on Tippikl's platform.
PDAX exchange in the Philippines enabled free USDT transfers via Plasma (XPL) network, featuring DEX infrastructure, 1-block confirmation times, and support for 30+ exchanges.
Seeking $15-20B funding round at $500B valuation, with capital commitments due by 2026-04-18.
Conducting airdrops totaling over $8 million in USDT value.
Binance Wallet launched a prediction market in beta on BNB Chain with USDT-denominated yes/no contracts on sports, elections, economics, and BTC outcomes.
Processed 64% of global stablecoin payment transaction value over the twelve months ending April 2026, primarily as USDT settlements on the Tron network.
Paused USDT infrastructure within 90 minutes due to Drift Protocol hack, with $5.65M USDT stolen via oracle and price manipulation.
Holds 85% of the stablecoin market share alongside USDC as of April 2026.
Appointed Jesse Spiro, Head of Government Affairs, chair of Fellowship PAC, raised over $100M ahead of 2026 U.S. midterm elections.
Reached lowest activity level of 2026 on Ethereum, with wallet addresses declining by 72,841 (-0.54%) over a 48-hour period ending 2026-04-01.
Featured in a $20k USDT trading competition on cubexch running from March 31, 2026 21:00 UTC to April 2, 2026 21:00 UTC.
Partners with ZeroHash to expand enterprise access to USDT on the TRON Network.
Fired two senior gold traders, Vincent Domien (former HSBC global head of metals trading, LBMA board member) and Mathew O'Neill (HSBC), weeks before auditors arrived.
Average USDT balance per holder on Ethereum is approximately $6,900, while on Tron it is approximately $1,200.
Integrated with KaiaChain to enable faster stablecoin settlements and seamless USDT deposits through grvt_io collaboration.
Announced an audit in response to stablecoin yield regulation, which contributed to CRCL posting its largest single-day drop since listing.
Leads stablecoin market capitalization at 2.5x USDC but moves 4x less volume than USDC.
Is supported as an asset on Aave's deployment on X Layer, where users can supply USDT and borrow USDT against collateral.
Supported for deposits and withdrawals on Kraken via Sei EVM.
Enabled multi-network withdrawals via new Gemini REST API endpoint.
Accounts for nearly 90% of on-chain stablecoin transaction volume when combined with Circle's USDC.
Backed 1:1 by 140 tons of physical gold worth $24B in Switzerland, holds $6.8B equity buffer. Faces insolvency risk from 30% decline in gold and Bitcoin holdings; IMF flagged BTC-related risks.
Hired KPMG for audit of $185B USDT supply, with PwC assisting.
Revolut supports USDT withdrawals directly on Avalanche, alongside AVAX and USDC, providing onchain access to 70M+ users across 160+ countries.
Shift4 offers 24/7 USDT stablecoin settlement on Avalanche to hundreds of thousands of merchants across hospitality, retail, travel and ecommerce.
Reached 5M+ weekly USDT users and 7.2M+ USDT transactions on Celo.
XAUT is listed on Coins.ph exchange.
Expanded XAUT natively to BNB Chain using LayerZero technology, enabling omnichain movement.
Listed XAUT on Binance with Seed Tag on 2026-03-26; XAUT/USDT joined Spot Altcoin Liquidity Enhancement Program on 2026-04-06.
Faces subpoenas from Swan Bitcoin in SDNY court to Commerce Secretary Lutnick and Cantor Fitzgerald over a joint mining venture with its 2040 Energy subsidiary.
Generated $490M revenue over 30 days ending March 25, 2026, and $16.08M fees over 24 hours, highest among all DeFi protocols tracked.
Tether acquired Whop, invested $200M in February 2026, with Whop integrating Aave to offer 6% USDT yield.
Integrated into Bitget Wallet's Onchain Payments Matrix alongside Ripple and Mastercard for global stablecoin settlements, and into Mastercard's Crypto Partner Program.
Invested $7.5M in Utexo alongside BigBrainVC and PortalVentures, partnered with Solv Protocol to build native USDT rails on Bitcoin through utexocom.
USDT achieved $1.1B in 30-day mint volume as of March 24, 2026.
Reached $1 billion in Spark Savings USDT deposits, increasing over $200M in 5 days (March 19-24, 2026); maintains >$700M withdrawal capacity against $885M total vault size (80% liquidity).
Participated as a backer in a $134M private placement for Stablecoin Development Corp (formerly NovaBay Pharmaceuticals), a company focused on USDS protocol governance that acquired nearly 9% of SKY's circulating supply.
Reached $184B market cap March 30, 2026, with $85B on Tron (up $20B year-over-year, adding $4B in Q1 2026) and $95B on Ethereum. Total supply sits at $193B, backed by Treasury bills, gold, Bitcoin, loans, and accounts for 61.91% of $265.627B total stablecoin market cap April 6, 2026, with issuance rising on Ethereum.
Launches USAT regulated stablecoin on Celo on 2026-04-07, with KPMG auditing $185 billion USDT reserves and Google Cloud providing infrastructure support.
Enabled as collateral for OTC trading of prediction markets through BitGo's institutional trading service.
XAUT (Tether Gold) experienced approximately $1 billion in market value reduction as gold dropped from $5,600 to $4,350.
Maintains 58.22% dominance of the stablecoin market with total stablecoin market capitalization at $316.198 billion as of 2026-04-04.
Added USDT deposit and withdrawal support on OKX for the Monad network on 2026-03-23.
Featured in a thread discussing stablecoin adoption and internet finance infrastructure, highlighting USDT's dominance of liquidity across emerging markets.
Experienced a trader losing $50M in a botched USDT swap on 2026-03-18
Faced EU ban discussions and regulatory scrutiny around 2026-03-18
Serves as the quote asset in the USR/USDC pool on Curve Finance that experienced a flash crash to $0.025 during the Resolv exploit, with the attacker converting dumped USR into USDC before exiting to approximately 9,100 ETH.
Holds over $160 billion in U.S. Treasuries as part of reserve requirements under GENIUS Act rules.
Froze $3.23 billion USDT, including $1.1 billion newly frozen, targeting Iranian exchange Wallex in coordination with Circle, as USDT supply decreased by $3 billion in Q1 2026, bringing total stablecoin supply to $315 billion and marking first divergence with USDC since 2022.
Partners with LejaApp to provide Kenyan small businesses access to working capital with 37.69% APY in USDT.
Processes 65+ billion USD in stablecoin volume annually on Celo L2.
Approved as an asset for paying transaction fees on Polkadot (swapped for DOT behind the scenes) as of March 14, 2026.