Tether’s $142 Billion USDT Supply Shapes Bitcoin and Stablecoin Markets
Tether’s USDT supply, now at $142 billion, plays a significant role in shaping Bitcoin’s liquidity and market dynamics. The company holds 3.09% of its assets in Bitcoin and allocated 15% of its net realized profits to Bitcoin purchases in 2025. On-chain data reveals Tether recently moved 951 Bitcoin, worth $70.5 million, from a Bitfinex hot wallet to a reserve wallet, which now holds about 97,141 BTC. This strategy emphasizes long-term custody and safety, reducing exchange liquidity.
Tether’s influence extends beyond Bitcoin accumulation. The company generated over $10 billion in profits for the first nine months of 2025, making it the 17th largest holder of US Treasuries globally. Plasma, a Bitcoin-based blockchain for stablecoin transactions, raised $24 million in funding led by Framework Ventures, with participation from Bitfinex and Peter Thiel. This project aims to address high fees and network congestion, offering private payments through RGB technology.
USDT dominates stablecoin trading volume, accounting for 74% on centralized exchanges. The US GENIUS Act, requiring one-to-one reserves, impacted the market value of payment firms. The total stablecoin market capitalization reached $308 billion as of August 13, 2026, a 4.5% drop from the May 2026 peak. Stablecoin transfers in 2025 hit $33 trillion, with Asia leading in stablecoin flows. In Venezuela, 90.2% of active Binance P2P order book volume for VES fiat pairs uses USDT.
In Europe, EUR-denominated stablecoins grew 12 times in volume from January 2025 to March 2026, reaching $777 million per month. Tether discontinued its EURT stablecoin due to MiCA regulations, which require licensed issuers and 1:1 fiat reserves. MiCA-compliant tokens like EURI, EURQ, and EURR are gaining traction, attracting institutional adoption. The rise of these compliant assets may challenge the dominance of USD-pegged stablecoins.