Tether Treasury minted 1 billion USDT on the Ethereum blockchain on 20 Aug 2025, blockchain-tracking services showed. The single transaction, recorded at roughly 11:43 UTC, represents about US$1 billion in new dollar-pegged tokens. The issuance is among the largest single-day mints this year and expands the circulating stock of the world’s biggest stablecoin. Tether has not released a public statement on the reason for the new tokens. Later the same day, on-chain tracker Whale Alert flagged two PayPal USD (PYUSD) transactions—165,986,554 PYUSD and 166,095,000 PYUSD—moving between unidentified wallets. Together the transfers were valued at about US$332 million. The back-to-back USDT issuance and sizeable PYUSD moves highlight a surge in stablecoin activity, a key barometer of liquidity in digital-asset markets.