Tether reported that it added 35.2 million new users in the fourth quarter of 2025, bringing the total user base to 534.5 million, despite the market being in a downturn. Tether announced on February 4, 2026, that it added 35.2 million new users in the fourth quarter of 2025, pushing the global user total to a record 534.5 million. This growth momentum was strong, even though Bitcoin had fallen more than 35% from its 2025 peak and the entire cryptocurrency market was broadly weak. The market capitalization of USDT also surged to an unprecedented high of $187.3 billion, surpassing previous peak levels, mainly driven by a surge in demand for stablecoin liquidity, which is widely used in cross-border payments, remittances, trading pairs, and hedging during volatile periods. Tether attributed this milestone to expanded access in emerging markets, integration with major wallets/exchanges, and an increasing number of institutional use cases, such as tokenized settlements and treasury management.