Key Notes
- Record quarterly earnings of $4.9 billion demonstrate Tether’s dominant position in the expanding stablecoin market.
- Over $13.4 billion in new USDT tokens were issued during Q2, bringing total circulation above $157 billion globally.
- Strategic holdings include $127 billion in US Treasuries, positioning Tether among largest private government debt holders.
Tether International announced on July 31 a net profit of approximately $4.9 billion for the second quarter of 2025, setting a new company record and highlighting its continued global expansion in the stablecoin sector. The company’s Q2 attestation, conducted by international accounting firm BDO, confirms the accuracy and transparency of Tether’s financial statements and reserves.
The company is the issuer of USDT, the biggest stablecoin in the industry by market cap. In the past, the company faced a lot of regulatory problems, but in recent years its influence has kept growing year over year, hitting new highs with a USDT supply of $163.71 billion in market cap.
Stablecoin Market Share Distribution | Source: DefiLlama
USDT Supply Grows as Market Trust Deepens
During Q2 2025, Tether issued more than $13.4 billion in new USDT tokens, bringing the circulating supply to over $157 billion, a $20 billion increase since the start of the year. The surge in demand for Tether’s stablecoin has been accompanied by increasing trust and acceptance in over 150 countries, especially in regions with unstable banking infrastructure.
“Q2 2025 affirms what markets have been telling us all year: trust in Tether is accelerating. With over $127 billion in US Treasury exposure, robust bitcoin and gold reserves, and over $20 billion in new USDT issued, we’re not just keeping pace with global demand, we’re shaping it,” Tether CEO Paolo Ardoino noted.
Tether’s growth and expansion are reflected in its asset reserves. As of June 30, 2025, the company held more than $127 billion in US Treasuries, with $105.5 billion in direct holdings and another $21.3 billion indirectly, an $8 billion increase from the prior quarter. With this level of exposure, Tether ranks among the largest private holders of US government debt globally.
Profits Driven by Core Business, Bitcoin, and Gold Holdings
Net profit for the quarter reached about $4.9 billion, contributing to a year-to-date profit of $5.7 billion. Of that total, $3.1 billion originated from recurring operations, while $2.6 billion came from mark-to-market gains on Tether’s gold and Bitcoin holdings. The company maintains shareholder capital of approximately $5.47 billion.
Tether has directed a substantial portion of recent profits into long-term strategic investments. New initiatives focus on emerging sectors such as artificial intelligence, renewable energy, and communications infrastructure, though proprietary investments are not included in the reserves backing issued USDT tokens.
Friendly US Regulation Boosts Tether’s Growth
This financial milestone arrives as the US further cements its leadership in digital dollar infrastructure through the GENIUS Act, which incentivizes stablecoin issuers to maintain robust reserves and transparency practices. Following this new law, Ardoino commented recently that the company is ready to engage directly with US regulators and return to work in the United States.
The GENIUS Act is propelling the stablecoin companies of the industry, not only Tether, but also their big competitor Circle and their stablecoin USDC. This new attestation shows that Tether’s USDT continues to gain adoption and maintain a leading market position, with the company’s financial disclosures and aggressive reinvestment signaling its intent to remain a leader among infrastructure providers for the worldwide stablecoin economy.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
José Rafael Peña Gholam is a cryptocurrency journalist and editor with 9 years of experience in the industry. He wrote at top outlets like CriptoNoticias, BeInCrypto, and CoinDesk. Specializing in Bitcoin, blockchain, and Web3, he creates news, analysis, and educational content for global audiences in both Spanish and English.
