Tether hat genau das geschafft, was Bitcoin nie geschafft hat – zur Schatten-Zentralbank der Welt zu werden

tldr; Tether (USDT), the world’s largest stablecoin issuer, has become a significant financial force, holding over $135 billion in U.S. Treasuries and $181 billion in reserves. It has generated $10 billion in profits in 2025, surpassing many traditional banks, and is now among the top 20 holders of U.S. government debt. While Bitcoin aimed to decentralize finance, Tether has effectively become a ’shadow central bank,‘ supporting the traditional financial system it was meant to disrupt. Its dominance highlights the irony of crypto’s reliance on the U.S. dollar and traditional financial structures.

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