💥 2025 has been a banner year for stablecoins. The market has grown from $205 billion to $263 billion, driven by new US regulatory frameworks and even a presidential stablecoin launch. @Tether_to maintains dominance with 62% market share, growing from $137B to $162B... 🧵

@circle's $USDC grew from $44B to $65B while its stock surged from $31 to $192, giving the company a $47B valuation. Meanwhile, Tether benefits from Commerce Secretary Howard Lutnick's connection - he previously led Cantor Fitzgerald where Tether keeps much of its reserves.

Trump's World Liberty Financial launched USD1, which quickly reached $2.2B market cap after being chosen for MGX's $2B investment in @binance. ⚠️ However, unlike other stablecoins, USD1 maintains $0 in excess reserves, potentially increasing risk to users,

TrueUSD faced chaos after investing nearly all reserves into speculative assets that denied redemptions. 👀 Justin Sun had to bail it out despite insisting he doesn't own it. First Digital USD fell from $2.1B to $1.45B as its issuer was targeted by Sun's anger over $TUSD

Smaller stablecoins also saw growth. @PayPal's $PYUSD grew from $500M to $840M, @Ripple's from $53M to $557M, and @ethena_labs's $USDe from $5.8B to $6.9B. More ⤵️