$100B is proof of demand. Volume is one of the clearest PMF signals in this industry. People either use the infrastructure or they do not. Capital either moves through it or it does not. @tether was already the most trusted dollar in digital finance. The asset was never the problem. The problem was the structures around it - CEX floats, third party operators, manual rebalancing, controlled fees, and broken UX. Our thesis was that if we did our job right, the end user would never need to know we existed. The dollar would just work, everywhere. @0xKeno and @zerolore saw the same inefficiency from different angles, and the three of us aligned quickly on what needed to be built. It clicked in early conversations with @paoloardoino - if we succeeded, USDT would become meaningfully more powerful. We launched on INK, then migrated more than $1B TVL on Arbitrum. Exchanges followed. Kraken listed USDT0 at launch alongside INK. Bybit came next. Binance supported USDT0 across Arbitrum, Polygon, Plasma, and others. Once we eliminated existing friction, hundreds of millions a day in volume became the baseline. Market makers could rebalance inventory across chains in minutes instead of coordinating across desks. The first $1B day came 10 months in. Plasma took supply close to $5B and made us the third largest USDT holder. Legacy mesh shipped, connecting Tron and TON into the network. We finished year one near $70B in volume, #1 on DefiLlama for activity between chains, 16x the next closest project. That's when the benchmark moved beyond crypto to the money movement people use every day - remittances, payroll, exchange settlement, treasury rebalancing, credit markets, and agentic finance. The systems that still depend on banking hours, intermediary fees, fragmented liquidity, and human inefficiencies. Tether built the dollar digital finance already trusts. The 0 is what makes that dollar usable across the networks where financial applications are being built. More people can reach the dollar they already trust, and that dollar can reach more of the financial system. $100,000,000,000 is a big milestone for us. It is also the lowest this number will ever be. Now, we go back to adding 0s. Tether, everywhere.

“Just sell some gold” We don’t use that kind of language in this house. Luckily XAUT0 lets you put your gold to work without selling it. Brought to you by gold bugs building the products we wish to see in the world.

One simple mission here: Make it easier to buy and move gold and if we succeed, potentially unlock infinite network effects. We have done it with the dollar, and now we’re over halfway to moving $1 billion worth of gold with our XAUT0 product!

I got into gold before Bitcoin was created. Still love the asset, but the experience of using it has always been… well bad. That's what makes this so epic to me. We're finally at a point where builders can do something genuinely interesting with gold beyond giving people another way to buy and hold it. Very excited to show what happens when gold gets put to work.

Liquid gold, everywhere

This is the everything becomes open source era for consumer software

The difference with XAUT0 is that it makes the gold you already own useful without having to sell it first. Think collateral, lending, liquidity. More networks, more ways to put the same asset to work. And to think, we are just getting started.

One of our highest priorities is helping builders and projects access the benefits of Tether assets, everywhere. Integrating assets people already trust helps teams avoid getting distracted with bootstrapping liquidity, and instead you can double down on finding that market for your product.

The product thesis here is that it all begins with distribution. Tether has it. So does OKX. X Layer brings the two together, connecting an active ecosystem with the assets people already trust. $1B moved is a solid indication that the product has found its fit in the market.

Last week we increased liquidity on the Ethereum <> Tron route to target max single transfers up to $20M. Since then, $200M has moved across it in 7 days. Product + Market = Fit

In the early days, any one of these would’ve been a huge week. You spend so much time focused on the next bottleneck that it’s easy to forget how far the product has come. These numbers are the result of a lot of very deliberate work getting the network ready for more volume, more users, and bigger transfers. A proper triple crown week. Proud of the team 🤝 Now back to work.

Integrations are easy when things go smoothly. When things break, we make sure to support our partners and take actions.

We achieved so many record breaking milestones together with Plasma. I remember when the gates opened and 10 figures worth of USDT0 moved onto Plasma. Incredible experience! What a great year for you guys. Congrats @pauliepunt and team. You’ve crushed it.

We keep at it.

You can learn so much by watching where users force a product to grow. Good example of the demand to product pipeline: @Ethereum ↔ @trondao now accounts for over 80% of our Legacy Mesh volume, so we’re adding liquidity to support larger transfers and reduce downtime. This is the first of several planned upgrades. Subscribe to the @USDT0_to blog if you want the intel as we ship.

$166 Billion USDT connected through our legacy mesh

Gold has always been a great asset with a terrible UX. Hard to move, use, or borrow against without adding brokers, custody, and shitloads of paperwork. Putting it onchain fixes the usability issue. XAUT0 takes that a step further by making the same gold useful across the chains powering the financial products of the future.