Tether's USDT is now a dominant force in the blockchain ecosystem, responsible for a significant 40% of all transaction fees across nine major networks. This highlights its widespread use not just as a stablecoin, but as the primary "fuel" for global on-chain activity, especially on networks like Tron and BNB Chain.
Tether financial influence is equally substantial. The company's market capitalization recently surpassed $100 billion, and it reported a net profit of $5.7 billion in a single six-month period. Its massive holdings in U.S. Treasury bills, now close to $100 billion, are even impacting short-term government bond yields.
Despite this rapid growth and influence, the company continues to face scrutiny over its transparency, with critics pushing for independent audits. These concerns are also a key part of ongoing regulatory discussions, particularly with new legislation like the GENIUS Act focusing on stablecoin oversight. In response, Tether is taking a proactive step by planning to launch Plasma, a fee-free blockchain specifically designed to further enhance USDT's utility.
August 2025, Cryptoniteuae