Tether, the stablecoin giant with a market capitalization of $143 billion, has emerged as the seventh-largest buyer of United States Treasurys globally, surpassing several countries in the process. According to Paolo Ardoino, the CEO of Tether, the company acquired over $33.1 billion worth of treasuries, positioning itself ahead of countries like Canada, Taiwan, Mexico, Norway, and Hong Kong. Tether’s investment in US Treasurys serves as additional backing for its USD-pegged stablecoin, as treasuries are considered safe and liquid investments. The growth of Tether comes amidst increasing adoption of stablecoins by investors and US lawmakers. The stablecoin supply has exceeded $219 billion, indicating that the market is still in the mid-cycle phase. In related news, the Blockchain Association anticipates the passing of stablecoin legislation in the US by as early as August, setting rules for stablecoins and cryptocurrency market structure. Kristin Smith, CEO of the Blockchain Association, and Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, both foresee comprehensive stablecoin regulations in the near future. The bipartisan support in Congress and the eagerness of relevant committees and the White House suggest an optimistic outlook for the upcoming legislation. This development was highlighted during Blockworks’ 2025 Digital Asset Summit in New York, where industry experts shared insights on the future of stablecoin regulation.