Share this article
Tether Ranks Among Top Buyers of U.S. Treasuries in 2024, Firm Says
The firm said it purchased a net $33.1 billion worth of U.S. Treasury securities last year.
Updated Mar 21, 2025, 2:01 p.m. Published Mar 20, 2025, 6:03 p.m.
What to know:
- USDT issuer Tether said it would rank as the seventh largest foreign net buyer of U.S. Treasury securities in 2024, surpassing countries like Canada, Mexico, and Germany.
- The firm bought a net $33.1 billion worth of U.S. Treasury securities in the previous year, highlighting the growing influence of U.S. dollar stablecoins in the U.S. Treasury government debt market.
- President Trump said on Thursday that "crypto will expand the dominance of the U.S. dollar."
Tether, the crypto company behind the largest stablecoin USDT, said it would rank as the seventh largest net buyer of U.S. Treasury securities in 2024 among countries.
The firm purchased a net $33.1 billion worth of U.S. Treasury securities last year, according to a compilation posted on Thursday by CEO Paolo Ardonio using data from Tether's reserve reports and the U.S. Treasury Department.
That puts the stablecoin issuer above countries like Canada, Mexico and Germany in the ranking, while Japan and China were net sellers by significantly reducing their U.S. Treasury holdings.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The data underscores the case of U.S. dollar stablecoins being a key force of demand in the U.S. government debt market. Treasury Secretary Scott Bessent said earlier this month that crypto and stablecoins are key to preserve the U.S. dollar's global dominance. President Trump echoed the argument on Thursday at a pre-recorded message at the Digital Asset Summit.
Read more: Crypto Will 'Expand Dominance of U.S. Dollar,' Trump Says
Circle's USDC, the second-largest stablecoin and fully backed by U.S. government securities, cash and other cash-equivalent assets, increased its market capitalization by $19 billion last year. USDT's market cap, which is predominantly backed by U.S. government securities, grew by $45 billion during the same period.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bhutan Debuts TER Gold-Backed Token on Solana
The Himalayan kingdom introduced TER, a Solana-based token backed by physical gold and issued through Gelephu Mindfulness City.
What to know:
- Bhutan introduced TER, a sovereign-supported gold-backed token issued via Gelephu Mindfulness City and custodied by DK Bank, offering a blockchain-based representation of physical gold.
- The token runs on Solana, giving international investors digital portability and on-chain transparency while mimicking the experience of traditional gold purchases.
- TER follows Kyrgyzstan’s USDKG launch, highlighting a growing trend of smaller nations issuing asset-backed digital currencies tied to audited reserves as part of broader economic and technological strategies.
Top Stories
