Tether, the issuer of USDT stablecoin, has significantly expanded its market share, controlling 71% of the global stablecoin supply, up from 50% in 2023. Surpassing 95 billion tokens, Tether's circulation value exceeds the GDPs of nations like Guatemala and Bulgaria. In contrast, Circle's USDC lags with 27 billion tokens. Tether's new leadership under CTO Paolo Ardoino, who replaced CEO Jean-Louis van der Velde, is strengthening ties with regulators and law enforcement, reflecting a strategic shift in operations.
