According to data from The Block, Tether’s share of stablecoin supply grew to 71% in 2023. Tether is the issuer of the USDT stablecoin and already has a significant presence in the industry. 

It previously held a 50% share of the global stablecoin market share. It currently has 95 billion stablecoins in circulation, Tether’s primary competitor, Circle's USD Coin (USDC), comes second with 27 billion tokens in circulation, down from its starting 2023 total of over 48 billion.

Paolo Ardoino, Tether’s new CEO, has been working towards a better relationship with law enforcement and regulatory authorities. It was reported that Tether [froze]((https://www.cryptoflash.report/articles/tether-freezes-41-crypto-wallets-in-proactive-move)) USDT holdings in wallets that were subject to sanctions by the U.S. Office of Foreign Asset Controls and brought in law enforcement agencies into the platform. 


It experienced significant growth in 2023. 


Tue Jan 16 2024

The Block: Tether Now Has Over 70% of Stablecoin Supply

Tether Freezes 41 Crypto Wallets in ‘Proactive’ Move

Cointelegraph: Tether Minted 4B USDT in 4 Weeks

Green Crypto Revolution: Tether Spearheads Sustainable Bitcoin Mining In Uruguay

Green Crypto Revolution: Tether Spearheads Sustainable Bitcoin Mining In Uruguay

Cointelegraph: Tether Minted 4B USDT in 4 Weeks

Tue Jan 16 2024 The Block: Tether Now Has Over 70% of Stablecoin Supply

Tether Freezes 41 Crypto Wallets in ‘Proactive’ Move

Cointelegraph: Tether Minted 4B USDT in 4 Weeks

Green Crypto Revolution: Tether Spearheads Sustainable Bitcoin Mining In Uruguay

Green Crypto Revolution: Tether Spearheads Sustainable Bitcoin Mining In Uruguay

Cointelegraph: Tether Minted 4B USDT in 4 Weeks

Tue Jan 16 2024

The Block: Tether Now Has Over 70% of Stablecoin Supply