Tether Claims 73% Stablecoin Market Amid US Regulatory Pressure

- Tether’s USDT represents 73% of global stablecoin activity. - The GENIUS Act introduces tighter oversight and reserve requirements for stablecoin issuers. On July 19, 2025, Cryptopolitan reported that Tether’s USDT continues to dominate the cryptocurrency market, claiming 73% of active stablecoin wallets globally. Its widespread adoption is clear, as over 165 million on-chain wallets have integrated USDT. It also serves as the base currency for more than 900 trading pairs and drives significant trading activity worldwide, with USDT featuring in 65% of all trades involving stablecoins. Trading pairs like USDT/BTC and USDT/ETH contribute to 35% of global trading activity, a fact that underscores Tether’s pivotal role in both centralized and decentralized ecosystems. Regionally, Tether’s relevance is pronounced, as Asia contributes 45% of its trading volume. In these areas, Tether provides a reliable financial alternative for areas with less developed banking systems and volatile currencies. As a result, stablecoin adoption has surged, with active wallets growing by over 50% in the past year to reach 30 million. Although Tether enjoys a commanding market position, it faces ongoing scrutiny over the transparency of its reserves. In 2021, the company resolved regulatory issues with the U.S. Commodity Futures Trading Commission concerning allegations about how it backed its currency. Since then, Tether has taken steps to increase transparency by issuing quarterly attestation reports that independent firms audit. As of January 2025, cash, cash equivalents, and short-term U.S. Treasuries back 84% of Tether’s reserves. The company is also reportedly collaborating with a Big Four accounting firm to conduct a full audit of its reserves. On July 18, 2025, the U.S. enacted the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This law creates a comprehensive federal framework for stablecoins. The legislation emphasizes full reserve backing, rigorous auditing standards, and enhanced regulatory oversight for major issuers. As governments increasingly push for financial security and trust in the cryptocurrency sector, competitors like Circle’s USDC and MakerDAO’s DAI have gained traction. However, they remain far behind Tether in scale and usage. According to data from CoinMarketCap, the value of Tether USDt (USDT) remained at $1 as of July 19, at 15:08 UTC. This value reflects a -0.019% change in its 24-hour trading volume.