Tether’s market cap has surpassed $160 billion for the first time. CEO Paolo Ardoino commented on this significant achievement.
Tether's Achievements and USDt Popularity Growth
USDt's market cap hit $160 billion, described as a 'mind-blowing milestone' by CEO Paolo Ardoino. He noted it reflects USDt's growing role as the digital dollar for billions in emerging markets.
USDt Backing and Token Minting Dynamics
According to Tether’s attestations, 81.5% of USDt's backing comprises cash and cash equivalents, primarily short-term US Treasurys. Tether has also been consistently minting new tokens, with recent figures showing over $127 billion in dollar backing.
Regulatory Changes and the Future of Stablecoins
The stablecoin market is rapidly expanding with increasing regulatory attention. The US government is focusing on regulation with the GENIUS Act, which has bipartisan support but has faced challenges in the House. The future of stablecoins will rely on ongoing regulatory efforts.
The growing capitalisation of Tether and ongoing attention to stablecoin regulation underscore the significance of this form of digital asset in the global financial market.
