Tether Posts $5.7B YTD Profit Ahead of New U.S. Stablecoin Launch in Q4 2025

Tether’s year-to-date (YTD) net profit has reached $5.7 billion, marking a significant financial milestone as the company prepares for a Q4 2025 re-entry into the U.S. market with a new stablecoin offering [1]. This surge in profitability, attributed to the strength of its business model, was driven by a $4.9 billion net profit in Q2 2025 alone, bringing the total for the first half of the year to $5.7 billion [1]. The firm’s CEO, Paolo Ardoino, emphasized that the new stablecoin will be tailored for the mature and highly efficient U.S. market, reflecting a strategic shift toward compliance with the newly introduced GENIUS Act [1].

The GENIUS Act requires U.S.-domiciled stablecoin issuers to back their assets with 100% U.S. Treasury bills or cash equivalents [1]. Tether’s current USDT stablecoin, which has a market capitalization of $163.6 billion, is backed by $127 billion in U.S. Treasury bills [1]. However, the new U.S. stablecoin will be a separate offering designed for institutional clients, with potential features such as yield generation [1]. It aims to facilitate interbank settlements and trading, a departure from USDT’s focus on users in less developed markets seeking faster USD transaction rails and protection against local currency devaluation and inflation [1].

This strategic move highlights Tether’s compliance-oriented approach while maintaining the core structure of its existing operations. The separation of the U.S. stablecoin from USDT also underscores growing regulatory interest in the stablecoin space, with the U.S. positioned as a potential model for other jurisdictions [2]. Tether’s financial strength, as demonstrated by its YTD profit, further solidifies its dominance in the market. It currently maintains a $100 billion lead over its closest competitor, USDC, which has a market size of $64 billion [1].

As the company gears up for its Q4 launch, market participants will be closely monitoring the structure and performance of the new stablecoin. Whether it can replicate the success of USDT in the U.S. institutional space remains to be seen, but Tether’s financial performance and strategic adaptability position it as a key player in the evolving stablecoin landscape [1].

Source: [1] Tether's $5.7B YTD profit sets stage for new U.S. stablecoin in Q4 (https://ambcrypto.com/tethers-5-7b-ytd-profit-sets-stage-for-new-u-s-stablecoin-in-q4/)

[2] Amazon reports Q2 AWS revenue up 17.5% YoY to $30.9B ... (https://www.techmeme.com/250731/p43)