The world’s largest stablecoin issuer, Tether, minted an additional $1 billion worth of USDT on the Tron network in the past 11 hours. At the same time, Circle also minted another 250M USDC on the Solana network.

Data revealed that Tether has minted 3B USDT on Tron since the beginning of 2025. Circle has also minted a total of 7.75B USDC on Solana since the start of the year.

Tether and Circle mint additional USDT and USDC stablecoins
Blockchain data showed that the USDT issuer minted another 1B USDT on the Tron network and pushed its total minted tokens this year to 3B. The firm also revealed that it had over $134 billion in USDT tokens in circulation as of November 2024.

“PSA: 1B USDt inventory replenish on Tron Network. Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.” – Paolo Ardoino, CEO at Tether.

Tether’s new mint pushed its USDT supply to over $140 billion, with most of it being on Ethereum ($76.9B) and TRON ($61.7B).

Paolo Ardoino, Tether CEO, revealed the company’s attestation for Q4 2024, which indicated that Tether garnered $13.7 billion in profits for the year 2024. The company also gained ~$6 billion in profits for Q4 2024 and $113 billion in direct and indirect holdings.

The report also highlighted that the company issued $23 billion USDT in Q4 2024. Ardiono added that Tether had a total issuance of $45 billion USDT for year 2024, which represented almost the entire market cap of the second largest stablecoin.

The firm also acknowledged that its USDT reached an impressive milestone of 400 million users globally who were mostly distributed among emerging markets and developing countries. Tether had $7 billion in its excess stablecoin reserves in 2024, which was a 36% increase year over year. According to Ardiono, the Tether Group proprietary equity also surged past $20 billion.

Data also showed that Circle resumed USDC minting on Solana after a 7-day pause. The firm has minted a total of $6B USDC on Solana in January and $1.5B in February. SpotOnChain also said that the 7-day break was the longest pause for Circle since previous mints were only up to 4 days apart.

The additional $250M USDC is part of Circle’s ongoing efforts to expand the reach and utility of its stablecoin across various blockchain platforms. The firm has been minting several batches of $250M USDC for several weeks. SpotOnChain maintained that the continued endeavor for Circle’s USDC mint was to meet the market-wide demand of the stablecoin.

Eleanor Terrett, FoxBusiness journalist, also reported that Tether was working with U.S. lawmakers to influence how fiat-backed currencies are regulated in the U.S. Terrett disclosed that Tether had never received a full audit, but opted to provide quarterly assessments of its financial books from global accounting firm BDO.

The journalist revealed that Tether had around 60% of the $230 billion stablecoin market. She also added that the company had become one of the largest holders of U.S. debt in the world, with over $114 billion of short-term Treasury bills in its reserves.

Terret highlighted that Congress was working to create legislation that will set a regulatory framework for stablecoins in the U.S. Ardoino told Terrett that the company was actively engaging with top lawmakers on how to best shape the law.

The journalist said that Congressman Bryan Steil had confirmed to Fox Business that Tether had been engaging in the discussion draft of the STABLE Act, which he and Congressman French Hill had introduced last week. According to Terrett, Tether would need to submit to a full monthly audit by a U.S. accounting firm for compliance with proposed regulations. The firm would also be required to maintain one-to-one reserves with assets that are pre-approved by regulators.

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Australia’s AUSTRAC has taken decisive action against over 50 financial institutions, highlighting their non-compliance with anti-money laundering and counter-terrorism financing laws. The focus is particularly on firms handling cryptocurrency transactions that have failed to report suspicious activities, with

AUSTRAC warning that failure to address these issues could result in the revocation of their registrations.
What Actions Are Being Taken Against Exchanges?
Investigations are currently underway for 13 cryptocurrency exchanges due to non-disclosure of key personnel backgrounds. These exchanges have a 28-day window to rectify their compliance issues, failing which they risk losing their operational licenses.
The regulatory landscape is particularly challenging for cryptocurrency exchanges, which are viewed as high-risk due to their capacity for facilitating large fund transfers. AUSTRAC CEO Brendan Thomas expressed concerns that the cryptocurrency sector could expedite illicit financial activities, prompting regulators to enhance their oversight.
Are Smaller Platforms at a Disadvantage?
Yes, the growing compliance requirements are especially burdensome for smaller and medium-sized platforms. Coinbase Australia CEO John O’Loghlen emphasized that registration does not equate to effective internal controls, urging regulators to differentiate between legitimate and illicit operators.
The heightened scrutiny extends to international money transfer companies, such as Currencyfair, which are now facing stricter regulations. While these audits aim to create a secure financial environment, they also impose significant operational challenges on market players, particularly impacting the viability of smaller businesses.

The stringent measures by AUSTRAC signify a significant shift towards robust regulatory frameworks for cryptocurrency operations, aiming to fortify the integrity of Australia’s financial ecosystem while posing challenges for existing players in the market.

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Georgia Bets on Bitcoin for Financial Stability
Unlike other crypto-friendly legislation, this bill focuses solely on Bitcoin. No Ethereum, no stablecoins—just Bitcoin. Lawmakers behind SB 178 see Bitcoin as a secure, long-term store of value. With major companies and countries beginning to add Bitcoin to their balance sheets, Georgia is looking to get ahead of the curve.

Supporters argue that adding Bitcoin to the state’s reserves could help protect against inflation. Traditional currencies lose value over time due to rising prices and government spending. Bitcoin, with its fixed supply of 21 million coins, offers an alternative that can’t be inflated away.

Of course, not everyone is on board. Critics worry about Bitcoin’s volatility. While its price has skyrocketed over the years, it has also seen sharp drops. Some argue that public funds should be handled with extreme caution and not be exposed to an asset that can swing wildly in value.

More About Bitcoin Reserves
Senator Cynthia Lummis strongly supports the idea of Bitcoin reserves, emphasizing their transparency and accessibility. She pointed out that a Bitcoin reserve could be audited anytime, 24/7, with just a basic computer—something impossible with traditional financial reserves.

Lummis believes it’s time to modernize state reserves, arguing that Bitcoin offers a secure and easily verifiable alternative. Her stance aligns with the growing trend of governments and institutions exploring Bitcoin as a reliable store of value.

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