Tether’s CEO, Paolo Ardoino, is celebrating a notable increase in the stablecoin’s user base this past quarter, sharing a popular Simpsons meme as more users globally turn to USDT amidst economic uncertainty.
In a recent update, Ardoino revealed that the stablecoin company has experienced growth in its user base during the first quarter of 2025. To mark this milestone, he shared a meme from the iconic animated series, The Simpsons.
The image features USDT being compared to coffee being poured from a jug into a cup held by Lisa Simpson, symbolizing Tether stablecoin users receiving an influx of USDT in their wallets on-chain.
“The number of USDT users increased by 13% in Q1/2025,” Ardoino noted in his recent post.
Ardoino has also disclosed that the stablecoin firm now has over 400 million users worldwide. However, the exact number of users as of Q1 2025 has yet to be disclosed. Currently, Tether holds the position of the largest stablecoin company by market capitalization, valued at $144 billion. It ranks third overall in the cryptocurrency space, just behind Bitcoin (BTC) and Ethereum (ETH).
In contrast, its competitor Circle (USDC) sits in 7th place, with a market cap of $60 billion, which is less than half of USDT’s valuation.
What has driven the rise in Tether users?
The recent spike in USDT users appears to be linked to the economic instability stirred by President Donald Trump’s blanket tariffs on imports. Following this, Trump announced a 90-day pause on tariffs that affect over 180 countries and regions, excluding China.
Stablecoins offer users a stable asset to safeguard their funds, which is notably less subject to volatility compared to other cryptocurrencies. Consequently, many individuals have opted to convert their holdings into stablecoins to shield themselves from market fluctuations.
According to a recent article, affluent Indonesians have been increasingly acquiring USDT in recent months as a strategy to manage their concerns regarding economic instability.
The report mentions that one private banker indicated Indonesians with a net worth between $100 million and $400 million have allocated about 10% of their assets into cryptocurrencies. As of April 9, the Indonesian rupiah has approached its historic low of around Rp16,957 per dollar amidst tariff tensions.
Since March, trading volume for the USDT-rupiah pair now makes up over a quarter of daily transactions on the Indonesian crypto exchange Tokocrypto, as confirmed by the firm’s chief marketing officer, Wan Iqbal.