Tether (USDT) is increasingly focusing on markets in Europe, the Middle East, and Africa due to regulatory pressures in the United States, with its supply surpassing $120 billion.
On-chain data indicates that USDT adoption is growing in Northern and Eastern Europe, as well as in developing nations, where Tether aims to tap into cheaper transaction options on alternative blockchain networks.
Chainalysis has identified a surge in USDT activity from countries like Russia, Iran, Rwanda, and Turkey, where crypto adoption is rising. While USDT is becoming a preferred payment option over Bitcoin and Ethereum, concerns persist about its potential use in illicit activities.
Despite a renewed investigation into Tether, Inc., the company reported $6 billion in excess reserves, backed primarily by U.S. Treasury bills. However, the recent usage data may not fully capture the entire landscape, as blockchain activity can vary widely.
Suspicion surrounds USDT’s role in bypassing sanctions, particularly on the TRON network, which accounts for the majority of USDT transfers. In centralized trading, USDT remains crucial for liquidity and the transition between fiat and crypto. However, stricter Euro Area regulations by late 2024 may impact its use, while USDC continues to gain prominence as a competing stablecoin.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.