Tether Q2 Profit $4.9B with USDT Supply Over $157B
Tether reported a record Q2 2025 net profit of $4.9B, fueled by its USDT stablecoin business and $2.6B in mark-to-market gains on Bitcoin and gold. BDO’s attestation showed $13.4B of new USDT issued, lifting circulation above $157B. By June 30, Tether held $162.6B in assets and $157.1B in liabilities, with $127B invested in US Treasuries—ranking it among the top private holders of US government debt. Profit from recurring operations reached $3.1B, bringing H1 profit to $5.7B. Tether plans to reinvest earnings into AI, renewable energy and communications infrastructure. The US GENIUS Act and clearer stablecoin regulations underpin Tether’s growth, while competitor moves—like Circle’s USDC IPO surge, PayPal’s yield-bearing stablecoin and a new Euro-backed token—signal a maturing stablecoin sector. Traders should note Tether’s reinforced market leadership and stablecoin stability outlook.
Neutral
Tether’s record Q2 profit, robust USDT issuance and $127B in US Treasury holdings bolster market confidence and reduce de-pegging risks. In the short term, this strengthens USDT liquidity and trust. Long term, diversified reinvestment and regulatory support solidify Tether’s leadership. However, as a pegged stablecoin, USDT’s value remains anchored at $1, resulting in a neutral price impact.