Tether, the world’s largest stablecoin issuer, minted an additional $2 billion USDT on July 16 on the Ethereum blockchain.
Tether CEO Paolo Ardoino confirmed the mint via a post on X, clarifying that the new mints were an “inventory replenish” on Ethereum. This means the funds serve as inventory for future issuance and blockchain swaps, rather than entering circulation immediately.
Of the newly minted supply, $1 billion was sent directly to Binance, the largest global crypto exchange by trading volume.
This transaction suggests that trading activity across crypto markets intensified, especially following Bitcoin’s new all-time high above $120,000.
USDT plays a critical role in the crypto ecosystem by providing liquidity and trading stability across centralized and decentralized platforms. According to company data, Tether has issued $4.4 billion in USDT in the past month alone.
Tether’s USDT supply crosses $160 million
The latest minting spree has driven Tether’s total market capitalization to an all-time high above $160 billion.
Ardoino hailed the milestone as a testament to USDT’s real-world utility, especially in emerging and developing markets.
According to him:
“[This is] a new mind-blowing milestone, a statement of the unrivaled utility of USDt as the digital dollar for billions of people living in emerging markets and developing countries.”
According to the company’s figures, Tether has issued more than $74 billion in USDT on Ethereum and $81 billion on Tron. It also holds smaller but growing footprints on other chains, including $2 billion on Solana, $530 million on TON, and $480 million on Avalanche.
Meanwhile, the stablecoin company emphasized that its issued tokens remain fully backed.
In Q2 2025, Tether reported having over $127 billion in exposure to US Treasurys. This includes direct holdings, indirect exposure via money market funds, and reverse repo agreements.
This means if Tether were a country, it would rank as the 18th-largest holder of US government debt.
