Tether CEO Paolo Ardoino says USDT supply has reached a record $188 billion, reinforcing the stablecoin’s dominance as broad stablecoin liquidity sits near all-time highs.
Summary
- Tether CEO Paolo Ardoino says USDT supply has reached a record $188 billion.
- The new peak comes a few weeks after stablecoins reached a combined market cap of $315 billion.
- USDT is now dominating the sector as its float is rising higher despite the recent breakout.
Tether CEO Paolo Ardoino says the circulating supply of USDT has reached an all-time high of $188 billion, extending the stablecoin’s lead over rivals as on-chain dollar demand rises.
In a post on X, Arduino highlighted the new record as another milestone for what it called a “digital dollar built for the masses,” after previously revealing that more than 550 million people in emerging markets now rely on USDT for payments and savings.
This figure shows a new growth since the beginning of March, when the data compiled by crypto.news shows Tether’s market capitalization around 184 billion dollars, accounting for about 58% of the stablecoin sector recorded at that time.
Tether’s USDT rises to $188b all time high
According to the disclosure of Tether and third-party trackers, the company holds about 187 billion dollars and reported a profit of more than 10 billion dollars in the year 2025, giving it one of the largest places in the crypto industry and allowing the issuance of USDT to keep up with the demand.
That expansion came despite a brief cooling off earlier this year, when Bloomberg reported that USDT supply posted its biggest monthly decline since the FTX collapse, falling to about $1.5 billion in February after pulling back to $1.2 billion in January as major holders pumped cash.
Ardoino argued that the flow reflects a more prudent stance than a structural move away from Tether, pointing to the high-demand discussions among users in inflation-stricken economies like Argentina, who are turning to stablecoins where pandemic-era restrictions have made access to physical dollars difficult.
In February’s quarterly update, Tether said the USDT market had already reached a then-record $187.3 billion by the end of 2025, with $192.9 billion in reserves and $6.3 billion in cash, making the business a profitable and over-leveraged business in relation to its liabilities.
Ardoino also emphasized USDT’s distribution metrics, recently noting on X that one major sender takes less than 5% of USDT transfers, compared to around 25% for other competing stablecoins, as evidence that usage is broad-based rather than dominated by a few whales.
With the USDT supply now at $188 billion, the Tether token remains the third largest crypto asset by market cap behind Bitcoin and Ethereum, according to crypto.news market data.
For more context on the stablecoin landscape, crypto.news recently reported a stablecoin market peaking at $226.8 billion by early 2025 and a subsequent increase to $315 billion, both milestones driven primarily by the strong growth of USDT.
