Tether Issues $20B in USDT YTD Driven by Strong Q2 Demand

Tether’s USDT issuance has surged significantly in 2025, with the stablecoin provider issuing 6 billion USDT in July alone, bringing the total year-to-date issuance to 20 billion USDT since the beginning of the year [1]. As of June 30, 2025, the total circulating supply of USDT has surpassed 157 billion dollars, highlighting the growing adoption and demand for the stablecoin across global cryptocurrency markets [2].

The Q2 2025 attestation report revealed that Tether has expanded its holdings of U.S. Treasury securities to 127 billion dollars, with 105.5 billion dollars held directly and 21.3 billion dollars held indirectly. This represents an increase of approximately 8 billion dollars from the first quarter of 2025 [3]. The company’s financial performance has also strengthened, with a net profit of 4.9 billion dollars in the second quarter and a total profit of 5.7 billion dollars in the first half of 2025 [4]. These figures underscore Tether’s financial resilience and the scale of its operations in the expanding stablecoin market.

The record issuance of USDT in the second quarter—amounting to 13.4 billion dollars—further cements Tether’s role as a major player in both the crypto and traditional financial systems. The increased issuance supports the stablecoin’s function as a medium of exchange and store of value, with over 52.9 billion dollars in transfers recorded in recent months [5]. As USDT’s market share continues to dominate the 250 billion-dollar stablecoin market, the stablecoin remains a preferred choice for users seeking liquidity and stability [6].

The continued growth in USDT supply raises broader questions about the governance and transparency of private stablecoin issuers, particularly in the face of increasing regulatory scrutiny. Tether’s expanding balance sheet, driven by its significant exposure to U.S. Treasuries, demonstrates how a private entity can influence macroeconomic dynamics with limited regulatory oversight compared to traditional financial institutions [7].

Despite the potential regulatory challenges, the current trend indicates sustained demand for USDT, with Tether outpacing many of its competitors in terms of issuance and operational performance. The market remains attentive to any signs of systemic risk or regulatory intervention, but for now, the momentum behind USDT shows no sign of slowing.

Source:

[1] Tether.io, "Tether Issues $20B in USDT YTD", https://tether.io/news/tether-issues-20b-in-usdt-ytd-becomes-one-of-largest-u-s-debt-holders-with-127b-in-treasuries-net-profit-4-9b-in-q2-2025-attestation-report/

[2] Coinpedia, "Tether Reports $4.9B Q2 Profit", https://coinpedia.org/news/tether-reports-4-9b-q2-profit-becomes-one-of-largest-u-s-treasury-holders/

[3] Mitrade, "Tether Q2 Net Profit Hits $4.9 Billion", https://www.mitrade.com/au/insights/news/live-news/article-3-1003972-20250801

[4] XT.com, "Tether Releases its Q2 2025 Attestation Report", https://www.xt.com/en/blog/post/tether-releases-its-q2-2025-attestation-report-confirming-net-profit-of-about-4-9-billion-for-the-quarter

[5] Crypto, "USDT Transfer Volume Hits $52.9B", https://cryptonews.net/news/blockchain/31362746/

[6] Ninepoint, "Chart 1: The Stablecoin Market Hits $250B", https://www.ninepoint.com/alt-thinking/digital-asset-group/dag-newsletter/2025/07/ai-haves-and-have-nots/

[7] Businesspost.ng, "Tether Exposure to US Treasuries Climbs to $127bn", https://businesspost.ng/world/tether-exposure-to-us-treasuries-climbs-to-127bn/