Tether's CEO highlights the milestone as a testament to USDt's growing role as a digital dollar, particularly in emerging markets.
Tether's USDt market cap has reached over $160 billion for the first time, reflecting its increasing adoption as a digital dollar in emerging markets. CEO Paolo Ardoino stated that USDt is utilized by over 400 million people globally, with Tron and Ethereum hosting the largest shares. Tether's backing reserves consist of 81.5% cash and cash equivalents, primarily in US Treasurys, with the company minting over $4 billion in new tokens recently. Regulatory discussions surrounding stablecoins are gaining momentum as the U.S. House prepares to vote on the GENIUS Act.