Key Takeaways

Tron has minted an additional $1 billion in Tether [USDT], just days after its Nasdaq debut and SEC filing for a $1B hybrid securities offering. 

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Tron [TRX] has just minted an additional $1 billion in Tether [USDT] — its largest issuance to date — mere days after marking two major milestones: a Nasdaq listing and the filing of a $1 billion hybrid securities offering with the U.S. SEC.

As regulatory scrutiny on stablecoins intensifies, this development may hint at Tron’s deeper ambitions.

Tron’s latest $1B issuance is dormant… for now

According to crypto analyst Darkfost, Tron’s newest $1 billion USDT mint isn’t business as usual.

While the network has added $22 billion in USDT since the start of 2025, this latest mint — bringing the yearly total to $23 billion — has not been officially issued on-chain.

Instead, the funds sit in a multisig wallet, with no transaction fees paid. It may be an inventory replenishment authorized by Tether, but not yet in circulation.

As such, the mint doesn’t appear in on-chain supply metrics, possibly for strategic positioning rather than immediate deployment.

TradFi moves mirror on-chain action Strongest stablecoin minting momentum since 2021

On-chain data from CryptoQuant confirms that 2025 is shaping up to be Tron’s most aggressive year of USDT issuance since the 2021 bull cycle.

As of July, Tron has minted $22 billion worth of USDT, surpassing the $16 billion minted in both 2023 and 2024, and trailing only the $46.2 billion minted in 2021.

Cumulative Supply sat at $81.7 billion at press time, with the recent $1 billion mint still uncounted. Meanwhile, Cumulative Minting has climbed to $38 billion in 2025 alone.

Whales are circling as price breaks higher

July saw a clear jump in Futures Average Order Size for TRX, with Big Whale Orders dominating trades above the $0.30 mark.

This aligns with the $1 billion USDT mint and recent TradFi moves—suggesting strategic positioning by large players anticipating capital flows.

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