Tether Q2 Profit Hits $4.9 Billion as USD₮ Supply Surges to $157 Billion

Tether, the operator of the world’s most widely used stablecoin USD₮, has revealed a net profit of $4.9 billion in the second quarter of 2025, with total first-half earnings reaching $5.7 billion. This performance reflects the continued global adoption of the stablecoin, as the USD₮ supply surged to $157 billion in circulation, up by over $20 billion year-to-date [2]. The second quarter alone saw the issuance of $13.4 billion in new tokens, indicating strong institutional and cross-border usage across 150 countries.

The earnings were primarily driven by recurring business operations, which contributed $3.1 billion in the first half of the year. An additional $2.6 billion came from mark-to-market gains on Bitcoin and gold holdings, highlighting Tether’s strategic diversification into both digital and real-world assets. CEO Paolo Ardoino emphasized that the results reaffirm the growing trust in Tether, stating that “trust in Tether is accelerating” [2].

Tether’s reserve strategy has also evolved significantly. By the end of Q2 2025, the firm’s U.S. Treasury holdings exceeded $127 billion, including $105.5 billion in direct investments and $21.3 billion in indirect positions. This marked an increase of $8 billion from the previous quarter and positions Tether among the largest global holders of U.S. government debt [2]. Total assets stood at $162.57 billion, with liabilities at $157.11 billion, primarily tied to issued tokens. Shareholder equity remained stable at $5.47 billion, offering a strong buffer against potential risks.

Beyond its core operations, Tether is expanding its long-term infrastructure initiatives. The company has allocated significant capital to strategic investments, including XXI Capital and the Rumble Wallet partnership. These efforts align with its broader mission to enhance the digital financial ecosystem and support the growing role of USD₮ in global finance [2].

Despite its strong financial performance, Tether remains under legal scrutiny in New York. Two ongoing lawsuits—one related to the 2017–2018 Bitcoin market downturn and another tied to the Celsius Network bankruptcy—have yet to be resolved. However, no provisions have been made in Tether’s financial reports to account for potential liabilities arising from these cases [2].

The firm’s transparent reserve management and strategic asset allocation underscore its resilience and market influence. With USD₮ now firmly entrenched in the global financial landscape, Tether appears well-positioned to continue shaping the future of digital dollars in an increasingly decentralized economy [2].

Source: [1] Tether Posts $4.9 Billion Profit Backed by Strong Reserve Strategy, CoinCentral, https://coincentral.com/tether-posts-4-9-billion-profit-backed-by-strong-reserve-strategy/

[2] USDT issuer Tether posts $5.7 billion profit in H1 2025, CryptoSlate, https://cryptoslate.com/tether-reports-5-7-billion-profit-amid-record-127-billion-us-treasury-investments/