Tether Q2 Profit Soars to $4.9B, USDT Market Cap at $164.5B

Tether reported record Q2 profit of $4.9B, a 277% year-over-year increase driven by strong USDT demand and Treasury bond yields. This lifted H1 revenue to $5.7B, up 9.6%, with assets reaching $162.6B against $157.1B in liabilities. USDT issuance rose by $13.4B in Q2, pushing its market cap to $164.5B, or 61.7% of the stablecoin market, while USDC holds about $64B. Tether’s U.S. Treasury bond holdings climbed to $127B, making it the world’s 18th-largest holder, and Bitcoin reserves neared $9B. The U.S. GENIUS Act aims to bolster a digital dollar as competition heats up—Circle’s USDC IPO and new euro stablecoins on Ethereum from Deutsche Bank, Galaxy and Flow Traders. Tether’s robust balance sheet and profit growth pave the way for a new institutional dollar stablecoin and reaffirm its leadership in crypto and traditional finance.