Tether Earned a Record $4.9 Billion in Q2 2025
Tether reported a record net profit of $4.9 billion in Q2 2025, setting a new all-time high for the company. This figure surpassed the previous record of $4.52 billion, achieved in Q1 2024. These results position Tether as one of the most profitable financial entities in the global cryptocurrency market.
According to a report by auditing firm BDO, over $13.4 billion in USDT was issued during the second quarter. The total outstanding issuance exceeded $157 billion. Of this, $127 billion was held in U.S. Treasury securities — $105.5 billion directly, and $21.3 billion via indirect instruments. This marks an $8 billion increase from the previous quarter.
Tether continues to dominate the stablecoin market. By comparison, the second-largest issuer, Circle (issuer of USDC), maintains around $64 billion in circulation. Thus, Tether's total issuance more than doubles that of its closest competitor.
The company also revealed that by the end of Q2 it held nearly $9 billion in Bitcoin, affirming its aggressive strategy of utilizing digital assets in reserve management. Additionally, Tether emphasized its position as one of the largest holders of U.S. government debt globally.
Special attention was given to U.S. legislative developments. The passage of the GENIUS Act, which strengthens the digital role of the U.S. dollar, coincided with Tether’s growing interest in the American market. Although historically Tether's client base was predominantly located outside the U.S., the company is now considering a domestic expansion.
According to CEO Paolo Ardoino, Tether is actively preparing to launch operations in the U.S., citing the crypto-friendly policies of the Donald Trump administration. This may mark the beginning of a new chapter in the expansion of the world’s largest stablecoin issuer.
See also: "Visa Adds Support for Three Stablecoins and Two Blockchains"
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