USDT now controls over 70% of the stablecoin market—basically a monopoly. Tether's market share jumped from 50% to 71% in 2023, and they just hit nearly $100B in total supply after issuing another $1B on Jan 12. That's more than the GDP of entire countries.
Meanwhile, Circle's USDC is stuck at $27B and they're filing for an IPO with the SEC. Not exactly a threat.
Bonus: Tether's Bitcoin portfolio is sitting at $3B and generating serious returns. Plus, the new CEO Paolo Ardoino is getting cozy with U.S. law enforcement—frozen over $435M in illicit funds already.
The stablecoin wars are basically over. Tether won.
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USDT now controls over 70% of the stablecoin market—basically a monopoly. Tether's market share jumped from 50% to 71% in 2023, and they just hit nearly $100B in total supply after issuing another $1B on Jan 12. That's more than the GDP of entire countries.
Meanwhile, Circle's USDC is stuck at $27B and they're filing for an IPO with the SEC. Not exactly a threat.
Bonus: Tether's Bitcoin portfolio is sitting at $3B and generating serious returns. Plus, the new CEO Paolo Ardoino is getting cozy with U.S. law enforcement—frozen over $435M in illicit funds already.
The stablecoin wars are basically over. Tether won.