Tether reports $4.9 billion Q2 profit as USDT supply hits $157 billion

Tether has reported a net profit of $4.9 billion in the second quarter of 2025, significantly contributing to its total earnings of $5.7 billion for the first half of the year. This performance reflects a period of strong growth and increased demand for USDT, the market's largest stablecoin. Over $13.4 billion in new USDT was issued during Q2, raising the total circulating supply to more than $157 billion, a $20 billion increase since the beginning of the year [1].

Tether’s reserve strategy has also seen substantial expansion, with exposure to U.S. Treasuries reaching $127 billion by the end of Q2 2025. This includes $105.5 billion in direct holdings and $21.3 billion in indirect investments, an $8 billion increase from the previous quarter [2]. The company’s reserves remain fully aligned with its liabilities, which are primarily attributed to issued tokens. Tether reported total assets of approximately $162.6 billion against total liabilities of $157.1 billion, with assets exceeding liabilities [2].

Operational strength and revenue consistency are evident in Tether’s financial structure. For the first half of 2025, $3.1 billion in recurrent profits was generated, excluding mark-to-market contributions from its Bitcoin and gold holdings, which added $2.6 billion. This underscores Tether’s ability to sustain profitability without relying heavily on market volatility [2].

The firm has also allocated significant capital toward long-term initiatives, including investments in XXI Capital and a partnership with Rumble to develop the Rumble Wallet. These efforts highlight Tether’s strategic focus on foundational infrastructure and innovation [2]. CEO Paolo Ardoino emphasized the company’s achievements, stating that the results affirm growing market confidence in Tether and the increasing role of USDT in digital finance [2].

Despite its financial success, Tether remains involved in two unresolved legal cases in New York. These include a class-action lawsuit related to the 2017–2018 Bitcoin market downturn and another tied to the Celsius Network bankruptcy. However, the potential financial impact of these cases has not yet been reliably assessed, and no provisions have been made in the company's financial reports for these matters [2].

Tether’s strong equity base, currently at $5.47 billion, supports its position as a key player in the digital asset space. The company’s financial resilience, transparent reserve management, and expanding influence in global fintech suggest a stable and growing role for USDT in the evolving digital 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/