Tether's USDT supply is expanding rapidly on the Telegram-linked The Open Network (TON) blockchain.

According to Tether’s transparency page, the stablecoin issuer has issued $580 million worth of USDT tokens on the blockchain, with a current net circulation of $519 million. This milestone was achieved in less than two months since Tether first launched its USDT stablecoin on the network.

The growth on TON is attributed to the network's efficiency in conducting transactions, described as enabling users to send digital dollars as easily as sending a text message, making it accessible globally.

Market analysts suggest that the increase in USDT supply on TON may be driven by heightened interest from significant investors in the blockchain ecosystem. TON has recently seen substantial growth, surpassing the number of daily active addresses on the Ethereum blockchain.

Moreover, Binance, the largest cryptocurrency exchange by trading volume, has recently added support for TON’s USDT, significantly broadening access to the stablecoin within the crypto community.

However, amid Tether’s expansion on TON, scrutiny from a US consumer advocacy group, Consumers Research, has intensified. The group distributed flyers to lawmakers in Washington, DC, alleging Tether's involvement in fraud investigations, terrorist financing, and close ties with China.

Tether has not responded to requests for comment from CryptoSlate regarding these allegations. Recently, Tether's CEO acknowledged ongoing negative perceptions (FUD) about the company, expressing regret over believing that proving the company's utility would eventually dispel such criticisms.