Financial Services
Tether
Tether is the issuer of USDT, still the world's largest stablecoin by market capitalization at roughly $186.6 billion (up 36% in 2025) and holding about 60% overall stablecoin market share, though that share is gradually eroding under regulatory pressure favoring Circle's USDC, which now drives close to 80% of total stablecoin transaction volume. With the GENIUS Act requiring any US-facing stablecoin issuer to hold a US banking license or partnership and back tokens 1:1 with high-quality liquid assets, Tether launched USA₮ on January 27, 2026 -- a GENIUS Act-compliant stablecoin issued through Anchorage Digital, a nationally chartered US bank -- as a parallel, US-compliant offering alongside its existing offshore USDT.
Additional Intelligence Signals
Patent citation lineage, earnings-call mentions, and federal contract disclosures — automatically collected, not yet visible anywhere else on the site.
Federal contract disclosures
Department of Defense — $2,145,867: NOSC ORLANDO - SEPA REPAIR (SECURITY UPGRADES)
USAspending.gov · Sep 14, 2022
Department of Defense — $1,409,141: CLEANING, TESTING, SAMPLING, INSPECTION, AND DISPOSAL SERVICES FOR THE OIL WATER SEPARATORS, GREASE TRAPS, SAND TRAPS, AND LIFT STATIONS.
USAspending.gov · Oct 1, 2024
Department of Defense — $220,725: 25L - AFFF CONTAINMENT TANK CLEAN-OUT, NAS KEY WEST
USAspending.gov · Aug 15, 2025
Department of Transportation — $215,000: GNV ATCT, REFURBISH PARKING LOT
USAspending.gov · Jun 29, 2026
Department of Defense — $135,304: TALLEYRAND TRASH (BASE YEAR)
USAspending.gov · Sep 24, 2021
Sources
Every claim traced to a primary source — evidence, recent activity, and insider filing behavior, all in one place.
Evidence
1 source · 48% avg. source confidence
- Bitrue / CoinDesk — Tether's USDT retains largest stablecoin market cap but cedes volume share to USDC48% source confidence
Dependency Map
What Tether depends on below, and who depends on Tether above — click any node to make it the new center, 3 levels deep.
Connection type
Click any node to make it the new center. Scroll to zoom, drag to pan.
The Story So Far (last 6 months)
Auto-generated from this entity's dated milestones, relationship updates, and sourced evidence — not AI-written, just sorted.
Market Intelligence
UnverifiedCredibly-reported claims — analyst notes, sourcing citing “people familiar with the matter,” deals where the companies involved declined to comment — that haven't been officially confirmed. Kept structurally separate from the sourced evidence above; treat as a lead worth researching further, not an established fact.
Landmark $15-20 billion raise reportedly on hold pending first full audit
42% confidenceTether was reported to be exploring a $15-20 billion share sale at roughly a $500 billion valuation, but the fundraise was said to be on hold while the company completes its first full financial audit with KPMG, with Tether also said to be considering tokenizing its own equity as an alternative liquidity path.
Reported by Bloomberg citing people familiar with the matter; Tether has not publicly confirmed final terms of the raise or a completed audit.
Bloomberg · Mar 24, 2026
Tether's Timeline
A sourced, dated history of Tether's key moments — founding to present.
Jan 2014 · Founded
Tether was founded, later issuing USDT, which became the world's largest stablecoin by market capitalization.
Jan 2026 · Launches GENIUS Act-compliant USA₮ via Anchorage Digital
Tether launched USA₮, a GENIUS Act-compliant stablecoin issued through Anchorage Digital, a nationally chartered US bank, giving Tether a regulated US-facing offering distinct from its offshore USDT amid new federal reserve-backing and licensing requirements for stablecoin issuers.