Tether Reports 330 Million USDT Users

As of the end of the third quarter of 2024, the stablecoin USDT is utilized by 330 million cryptocurrency wallets and on-chain accounts, according to its issuer, Tether.

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How Many USDt Users Are There?
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— Tether (@Tether_to) October 16, 2024

The company compared this figure to the population of the United States and emphasized that the final result does not include USDT users on centralized bitcoin exchanges. Tether estimates these users to be several tens of millions more.

Despite the large audience, the issuer notes an increase in the growth rate of this figure. The third quarter of 2024 was a record, bringing in 36.25 million new users.

Tether attributed the increase in audience to second-layer solutions and the development of the TON ecosystem.

The most popular blockchains for USDT were identified as TRON, BNB Chain, and Ethereum, with the greatest growth over the past year observed in Optimism, Arbitrum, and Polygon.

Earlier, Tether CEO Paolo Ardoino described the company as “the best friend of the US government.” Prior to this, the issuer reported assisting 145 law enforcement agencies in recovering over $108.8 million in USDT since 2014.

In September, the consumer advocacy group Consumers’ Research accused Tether of lacking transparency regarding its US dollar reserves and compared the company to the collapsed cryptocurrency exchange FTX.