Tether posts record $4.9 billion net profit for second quarter
Quick Take Tether, the world’s largest stablecoin issuer, said it registered a net profit of $4.9 billion, setting a new quarterly record. The previous record was $4.5 billion, set in Q1 2024. The company held nearly $9 billion in bitcoin at the end of the fiscal period.
Stablecoin juggernaut Tether scored a new quarterly record during the second quarter by posting a net profit of $4.9 billion, the company said on Thursday.
Tether's previous net profit record of $4.52 billion was set during the first quarter of last year. The company has proven in recent years to be one of the world's most profitable companies.
"Q2 2025 marked a new chapter in Tether’s global expansion, with over $13.4 billion USDT issued, bringing the circulating supply to more than $157 billion," the firm said in its latest attestation report prepared by accounting firm BDO. "Total exposure to U.S. Treasuries – including $105.5 billion in direct holdings and $21.3 billion owned indirectly — exceeded $127 billion (~$8 billion increase compared to Q1 2025) at the end of Q2 2025."
Tether is by far the leading stablecoin issuer. The second-largest stablecoin USDC, issued by Circle, has a supply of roughly $64 billion, according to The Block Data Dashboard . That's compared to USDT's $163 billion total supply.
The USDT issuer also said it held nearly $9 billion in Bitcoin at the end of the second quarter.
Tether repeated that it remains "among the largest holders of U.S. government debt globally" and that the "milestone comes at a time when U.S. policymakers, through the GENIUS Act, have taken decisive steps to solidify the dollar’s global leadership in digital form."
So far Tether's customers have almost exclusively been non-U.S. based users and entities, but that could change as the company eyes expanding into the U.S. market amid President Donald Trump implementing a pro-crypto administration. Last week, Tether CEO Paolo Ardoino said the stablecoin issuer is well underway to do business in the U.S.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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