In recent times, the unpredictable nature of the global economy has led to an uptick in the adoption of USDT, Tether’s stablecoin, as investors seek secure places to store their assets, resulting in a notable 13% increase in the user count.
Tether’s CEO, Paolo Ardoino, celebrated this milestone on April 14, 2025, via a viral meme inspired by The Simpsons. The image shared by Ardoino humorously illustrates USDT being poured into a cup held by Lisa Simpson, symbolizing how users are benefiting from enhanced USDT deposits in their wallets.
Additionally, Ardoino disclosed that Tether has surpassed 400 million global users, although the exact user count for the first quarter of 2025 has not yet been revealed.
“Today, Tether USDt has (conservatively) more than 400 million users across the world. Soon 1 billion. We always focused on the adoption from the ground up, working in the streets, among other people, while traditional finance was watching at us from their ivory towers.”
— Paolo Ardoino 🤖 (@paoloardoino) March 27, 2025
As per the latest market assessments, Tether retains its position as the leading issuer among stablecoins with a market capitalization of $144 billion, ranking third overall in the cryptocurrency market behind Bitcoin and Ethereum. Circle, Tether’s nearest competitor, sits at the seventh position with a market value of $60 billion.
USDT Sees Increased Adoption Despite Economic Instability
The continued pegging of USDT to the US dollar has drawn users looking to distance themselves from conventional financial systems during turbulent economic times. Moreover, the economic landscape has been affected by a recent declaration from US President Donald Trump, who imposed blanket tariffs on virtually all imports. Trump later announced a temporary 90-day pause on tariffs for nations willing to negotiate.
Government regulations are evolving, with Tether considering launching a US-centric stablecoin if competitive frameworks are established. Currently, Tether has $144 billion worth of tokens in circulation but does not cater to customers from the US.
On April 14, 2025, Tether also made headlines with the announcement of its plans to leverage existing and future hash rates on OCEAN, a Bitcoin mining pool initiated by developer Luke Dashjr. This initiative aims to bolster decentralized Bitcoin mining further, reaffirming Tether’s commitment to financial freedom and decentralization.
Transparency Still a Major Regulatory Hurdle for Tether
Despite its growth, Tether grapples with ongoing scrutiny regarding transparency about its reserves, which led to the delisting of USDT from several European exchanges. Furthermore, allegations concerning the utilization of USDT in money-laundering activities have surfaced, highlighted by a recent report detailing that nine individuals in China were sentenced for their roles in a fraud scheme that exploited Tether to launder over $6 million from numerous victims in India.
The operation, which targeted 66,800 people, involved sophisticated tactics to mask significant transactions using Tether, marking a pressing concern amid Tether’s continued expansion in the crypto landscape.
Key Takeaways
- Tether’s user base has surged 13% in the first quarter of 2025, with users gravitating towards USDT as a stable financial haven.
- The company may consider creating a US-specific stablecoin if the regulations favor development.
- Tether plans to deploy both current and future hash rates on OCEAN, enhancing their mining operations globally.
