Tether USDT Hits Record High in Circulation Amid Blockchain Shifts

On July 17, 2025, Tether (USDT), a widely used stablecoin, reached an all-time high in circulation, hitting a record $160 billion. This milestone comes amid significant shifts in the blockchain landscape, as reported by Coincu.com. The stablecoin’s supply has been steadily increasing, reflecting its growing adoption and utility in the crypto market.

Market Dynamics and Price Stability

As of July 14, 2025, Tether’s close price was recorded at $1.00008, maintaining its peg to the US dollar with minimal fluctuation. Over the past year, Tether’s price has ranged between a high of $1.00299 on March 1, 2025, and a low of $0.996926 on October 24, 2024. This stability is crucial for its role as a bridge between traditional finance and the crypto world.

Market Capitalization

Tether’s market capitalization stands at approximately $159.95 billion, underscoring its dominant position in the stablecoin market. This substantial market cap reflects the trust and reliance investors place in Tether as a stable and reliable asset.

Allegations of Money Laundering

In a separate development, a Russian national, Iurii Gugnin, is alleged to have laundered $530 million using Tether. According to a report by Cointelegraph.com, Gugnin reportedly used fake documents to bypass sanctions and deceive US banks, highlighting potential risks associated with the misuse of stablecoins in illicit activities.

Legislative Challenges

Efforts to advance cryptocurrency legislation in the US House of Representatives have faced setbacks. House Republican leaders encountered disagreements among GOP lawmakers, stalling key crypto bills. Notably, Marjorie Taylor Greene opposed a ban on Central Bank Digital Currencies (CBDCs), stating she “will not vote for this,” as reported by Benzinga.

Broader Crypto Market Movements

The broader crypto market has seen mixed movements. Bitcoin (BTC) dropped below $118,000, trading at $117,812.50 with a slight 0.14% increase over 24 hours, according to Binance Market Data. Conversely, Binance Coin (BNB) surpassed the $720 USDT mark, experiencing a 4.17% increase in the same period.

Stablecoin Initiatives by Traditional Financial Institutions

In a notable development, Citigroup is considering launching its own stablecoin for cross-border payments. This move, as discussed by CEO Jane Fraser, aligns with the growing trend of traditional financial institutions embracing cryptocurrency technologies.

Conclusion

Tether’s record-high circulation highlights its pivotal role in the crypto ecosystem, while ongoing legislative and regulatory challenges underscore the complexities of integrating cryptocurrencies into the broader financial system. As the market continues to evolve, the actions of both crypto-native and traditional financial players will shape the future landscape.