The circulating supply of Tether’s USDT stablecoin climbed to a record high above $156 billion after the issuer minted a further $201 million, according to on-chain analytics platform Token Terminal. The latest creation lifts outstanding USDT to roughly $157 billion and reinforces the token’s position as the largest dollar-pegged asset in crypto markets. Activity on the Tron network accounts for more than half of that total, with on-chain data showing USDT worth over $80 billion now circulating on the blockchain. Tron’s low fees have made it a preferred rail for transfers, especially in emerging markets and for exchange settlement. The rapid expansion comes as U.S. lawmakers increase scrutiny of stablecoins. The Senate approved the GENIUS Act in a 68–30 vote, introducing new compliance requirements for dollar-backed tokens. Trading venue data indicated Circle’s shares rallied about 600% after the vote, reflecting investor expectations that clearer rules could spur institutional adoption across the sector.