{"id":428790,"date":"2024-06-26T16:44:40","date_gmt":"2024-06-26T15:44:40","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=428790"},"modified":"2024-06-26T16:44:40","modified_gmt":"2024-06-26T15:44:40","slug":"tether-usdt-sees-rapid-580-million-growth-on-telegram-linked-ton-blockchain","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/tether-usdt-sees-rapid-580-million-growth-on-telegram-linked-ton-blockchain\/","title":{"rendered":"Tether USDT sees rapid $580 million growth on Telegram-linked TON blockchain"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/tether\/\">Tether's<\/a> USDT supply is growing at its fastest rate on the Telegram-linked The Open Network (<a href=\"https:\/\/cryptoslate.com\/coins\/toncoin\/\">TON<\/a>) blockchain.<\/p>\n<p>According to Tether's transparency <a href=\"https:\/\/tether.to\/en\/transparency\/?tab=usdt\">page<\/a>, the stablecoin issuer has issued $580 million worth of USDT tokens on the blockchain, and its net circulation sits at $519 million as of press time. This milestone comes less than two months after Tether issued its USDT stablecoin on the network.<\/p>\n<h2>Why Tether USDT is growing on TON<\/h2>\n<p>TON stated that the growth was due to the ease of performing transactions on its network. It stated:<\/p>\n<blockquote><p>&#8220;Sending digital dollars to anyone, anywhere, as easily as sending a text message is a reality for people all over the world. What\u2019s more real than that?&#8221;<\/p><\/blockquote>\n<p>Market analysts also pointed out that USDT's supply increase on TON could be linked to the significant investors' <a href=\"https:\/\/cryptoslate.com\/phishing-attacks-threaten-booming-ton-network-amid-rising-tvl\/\">interest in the blockchain ecosystem<\/a>. Over the past month, TON has experienced <a href=\"https:\/\/cryptoslate.com\/telegram-related-toncoin-catapults-into-top-10-digital-assets-following-hand-scanning-tech\/\">considerable growth<\/a>, with the network flipping the number of daily active addresses on the more storied Ethereum blockchain.<\/p>\n<p>Additionally, Binance, the largest crypto exchange by trading volume, recently <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/binance-completes-integration-of-tether-usdt-on-toncoin-network-opens-deposits-and-withdrawals-f6c4867f5cab47e39864130804eff106\">enabled<\/a> support for TON's USDT on its platform. This move has drastically expanded the crypto community's access to the stablecoin on the blockchain network.<\/p>\n<h2>Tether scrutiny<\/h2>\n<p>While USDT's growth coincides with the overall expansion of the TON ecosystem, a Consumer Research group in the US is now <a href=\"https:\/\/cryptoslate.com\/exclusive-inside-tethers-battle-with-fud-and-financial-resilience-reveals-ceo-paolo-ardoino\/\">scrutinizing Tether<\/a>.<\/p>\n<p>On June 25, Fox Business journalist Eleanor Terret <a href=\"https:\/\/x.com\/EleanorTerrett\/status\/1805636691555766561\">reported<\/a> that Consumers Research, a US consumer advocacy group, recently intensified its efforts against the stablecoin issuer by distributing flyers about it to several lawmakers' offices in Washington, DC.<\/p>\n<p>The flyers accuse Tether of being involved in fraud investigations, terrorist financing, and having close ties with China. Part of the flyer reads:<\/p>\n<blockquote><p>&#8220;Tether's shady business practices put consumers\u2019 money at risk, while allowing bad actors to fund their illicit activities across the globe.&#8221;<\/p><\/blockquote>\n<p>As of press time, Tether has yet to respond to CryptoSlate's request for comment. However, Tether CEO <a href=\"https:\/\/cryptoslate.com\/exclusive-inside-tethers-battle-with-fud-and-financial-resilience-reveals-ceo-paolo-ardoino\/\">recently told <\/a><em><a href=\"https:\/\/cryptoslate.com\/exclusive-inside-tethers-battle-with-fud-and-financial-resilience-reveals-ceo-paolo-ardoino\/\">CryptoSlate<\/a>\u00a0<\/em>that the FUD against it is seemingly neverending and that he realizes the company may have been naive in believing it &#8220;could just keep our head down, work, and if we were proving that we were doing good to the world and that we were useful, all the <a href=\"https:\/\/cryptoslate.com\/tether-ceo-says-circle-director-misled-congress-in-desperation-in-attack-on-usdt\/\">FUD<\/a> would go away eventually, right?&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether&#8217;s USDT supply is growing at its fastest rate on the Telegram-linked The Open Network (TON) blockchain. According to Tether&#8217;s transparency page, the stablecoin issuer has issued $580 million worth of USDT tokens on the blockchain, and its net circulation sits at $519 million as of press time. This milestone comes less than two months [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":428797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,32631],"tags":[76896,78867,72860],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether USDT sees rapid $580 million growth on Telegram-linked TON blockchain<\/title>\n<meta name=\"description\" content=\"Learn about Tether&#039;s USDT supply surge on the Telegram-linked TON blockchain. 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Explore the factors contributing to this significant growth.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/tether-usdt-sees-rapid-580-million-growth-on-telegram-linked-ton-blockchain\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T15:44:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/06\/tether-usdt-ton.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/tether-usdt-sees-rapid-580-million-growth-on-telegram-linked-ton-blockchain\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/tether-usdt-sees-rapid-580-million-growth-on-telegram-linked-ton-blockchain\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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