Tether's USDt has achieved a market capitalization of $150 billion for the first time, as of May 12, 2025, marking a significant milestone amid increasing stablecoin adoption. The supply of USDt has grown by over 36% in the past year, with a notable acceleration in growth following the recent election cycle. Currently, USDt holds 61% of the global stablecoin market, significantly overshadowing Circle's USDC at nearly 25%. Tether functions as a crucial provider of liquidity in cryptocurrency trading and serves as a key indicator of crypto demand. Despite its global presence, Tether faces usage restrictions in the US but is contemplating launching a domestic dollar-backed stablecoin. Tether's CEO has indicated increased lobbying efforts in the US as legislation around stablecoins evolves, particularly regarding the controversial STABLE Act, which some experts believe may introduce regulatory challenges rather than effective oversight.

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