Tether.

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Publié le 8 July 2026

Altcoins

While Tether pursues an aggressive expansion strategy in Latin America through a partnership with Mercado Bitcoin, the announcement that its former Chief Investment Officer (CIO) is seeking to sell his stake in the USDT issuer sends a diametrically opposite signal. This contrast raises questions about the internal health of the stablecoin leader — at a time when competition, led by USDC, is intensifying and European regulation is tightening.

By the DCN Media editorial team — July 8, 2026

A Latin American Expansion with Strategic Overtones

On July 8, 2026, Tether formalized a major partnership with Mercado Bitcoin, the largest cryptocurrency exchange platform in Latin America. The stated objective is clear: to strengthen the adoption of USDT on a continent where chronic monetary instability and high inflation are pushing millions of users toward stablecoins as a store of value.

Mercado Bitcoin, which claims several million clients in Brazil and other South American countries, thus becomes an essential growth driver for Tether. Concretely, the agreement provides for the native integration of USDT on the platform, allowing users to buy, sell, and hold dollar-backed stablecoins with no additional fees during a promotional period. The initiative also aims to facilitate cross-border transfers and USDT payments between individuals and merchants in the region.

This announcement fits into a broader trend. For several quarters, Tether has been multiplying agreements with local players in emerging economies — Africa, Southeast Asia, and now Latin America. The strategy consists of positioning USDT not merely as a trading stablecoin on centralized exchanges, but as a daily financial tool in regions where access to the dollar is limited or costly.

Latin America represents a particularly strategic market. Brazil, Argentina, Chile, and Colombia are experiencing growing cryptocurrency adoption, driven by inflation and the depreciation of local currencies. According to publicly available on-chain data, stablecoin transaction volumes have surged by over 40% year-over-year in the region. By joining forces with Mercado Bitcoin, Tether secures a dominant position in this rapidly expanding market.

Former CIO Wants to Sell: A Troubling Signal

But on the same day, another piece of information shook the crypto ecosystem. Tether former Chief Investment Officer (CIO), whose departure had been announced a few months earlier, is reportedly actively seeking to sell his stake in the company. According to sources close to the matter, this potential sale would involve a significant portion of the shares he held, an operation that could value his position at several tens of millions of dollars.

This move comes in a context where Tether only partially discloses its ownership structure and where details on capital distribution remain opaque. The former CIO desire to exit the company capital raises all the more questions given that the firm is posting record profits, driven by income generated from USDT reserves placed in U.S. Treasury bills and other financial instruments.

Several hypotheses coexist to explain this decision. The first would be personal: the former CIO might wish to diversify his assets or finance other entrepreneurial projects. The second, more concerning for the market, could be linked to strategic disagreements or an anticipation of future regulatory difficulties. The third, finally, would stem from a simple financial opportunity: with crypto company valuations reaching peaks, selling a stake now might seem prudent from a wealth management perspective.

Whatever the real reason, the mere fact that a former senior executive who had access to the company accounts and strategy is seeking to leave the ship while Tether proclaims its financial soundness creates legitimate doubt in the minds of investors and market observers.

The Competitive Context: USDC Advances Its Position

This Tether paradox occurs at a time when competition in the stablecoin market is intensifying. USDC, issued by Circle, has seen a remarkable increase in its market capitalization since the beginning of 2026. After going through a difficult period during the 2023 banking crisis, the regulated stablecoin has regained the trust of institutional investors, attracted by the increased transparency of its reserves and the quality of its audits.

Several factors explain this favorable dynamic for USDC. On the one hand, U.S. and European regulators are pushing for standardization of stablecoins around transparency and reserve requirements that Circle scrupulously follows. On the other hand, USDC integration into leading decentralized finance (DeFi) protocols has accelerated, particularly on Ethereum and Solana.

Faced with this, Tether remains the undisputed leader with an USDT market capitalization exceeding $110 billion, but its relative market share has slightly decreased. The company has certainly stepped up transparency efforts — quarterly publication of reserves, reduction of exposure to commercial paper — but doubts persist among some observers regarding the exact quality of the underlying assets.

The European Regulatory Specter

The European Union adds additional pressure with the progressive entry into force of the MiCA regulation (Markets in Crypto-Assets). This regulatory framework, the most advanced in the world for cryptocurrencies, imposes strict rules on stablecoin issuers: fully liquid reserves, mandatory audits, prior approval from supervisory authorities.

For Tether, MiCA represents an existential challenge in the European market. The regulation is explicitly designed to favor compliant stablecoins — issued by entities...