Tether celebrated its 10th anniversary with a significant expansion of its user base. As of October 7, the stablecoin issuer reached 350 million users, a 148% increase from 141 million users in 2022.

Tether’s rapid growth can be attributed to factors such as the strict regulatory environment in the US and the 2023 banking crisis, which caused users to shift their assets away from US-based platforms.

Tether’s new CEO Paolo Ardoino has increased the company’s cooperation with regulators. However, new regulatory hurdles in Europe threaten Tether’s market share.

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