Tether's USDT stablecoin has exceeded 534 million users, growing steadily despite a 30% decline in overall crypto market capitalization since October 2025. The stablecoin's market cap increased to $187.3 billion with expanded reserves, including US Treasuries, Bitcoin, and gold, underscoring diversification efforts. However, concerns about USDT's peg stability emerged briefly amid a minor depeg, highlighting risks due to its significant role in crypto liquidity.

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