Tether was the 7th largest buyer of US treasuries in 2024

TETHER, the USDT transmitter, ranked as the seventh buyer of titles from the US Treasury in 2024.

According to a post of March 20 on X by the chief executive of Tether, Paolo Ardodino, Tether (USDT) bought a net of $ 33.1 billion in US Treasury vouchers last year. This has advanced him on countries like Germany, Canada and Mexico. In a separate article, Ardoino also noted that Tether’s global presence has grown rapidly, the adoption of the USDT exceeding 400 million users, mainly in developing countries.

As of March 21, the USDT leads the Stablescoin market with 62.45% of the total supply of $ 230 billion, according to DEFILMA data. The USDT market capitalization reached $ 143 billion, almost three times the market capitalization of its rival, Circle’s USD Coin (USDC), which amounts to $ 59 billion.

Tether’s financial force was demonstrated last year when she declared a record net profit of $ 13 billion despite the regulations reverse in Europe. The company published USDT 23 billion in the fourth fourth quarter, contributing to a total program of 45 billion USDT in 2024.

Tether may encounter difficulties in the United States despite its expansion acquisition of American treasury bills. A proposed shield Invoice could prevent offshore access issuers to the US Treasury markets. Competitors based in the United States such as the USDC can draw from this bill at the expense of the attachment. Nevertheless, Ardodino is still optimistic about the role of Tether on the US Treasury market.

During an event on March 11 organized by Bitcoin Policy Institute, Ardodino argued that Tether’s investments to strenghten and diversify the American debt markets. “We did more for the financial inclusion than anyone,” he said. “And in doing so, we buy back the American debt. If we were a country, we would be the 18th largest holder of treasury bills. ”

Meanwhile, US President Donald Trump and the Treasury Secretary Scott Bessent continues to put pressure on policies adapted to stablescoin, highlighting their role in maintaining the global domination of the dollar. Trump, in a virtual of March 20 speech At the top of digital blockworks assets, Congress has exhorted to adopt clear and common sense regulations to encourage institutional adoption.