Catenaa, Friday August 1, 2025-Tether, the world’s largest stablecoin issuer, reported a record second-quarter net profit of $4.9 billion, surpassing its previous high of $4.52 billion set in the first quarter of 2024. The company credited rising US Treasury holdings and robust demand for USDT in global markets.
According to Tether’s latest attestation by BDO, the firm issued $13.4 billion in USDT during the quarter, bringing the total circulating supply to over $157 billion. The company’s exposure to US Treasuries reached $127 billion, an $8 billion increase from the prior quarter, solidifying Tether as one of the largest holders of US government debt globally.
Tether also disclosed holding nearly $9 billion in bitcoin by the end of the quarter. The company noted that it continues to dominate the stablecoin market, with USDC, the second-largest competitor, at roughly $64 billion in circulation.
The milestone comes as Tether eyes expansion into the US market under President Donald Trump’s pro-crypto administration. CEO Paolo Ardoino said the firm is preparing to operate domestically, a shift from its historically international client base.
