Tether Q2 2025 profit hits $4.9B as USDT supply crosses $157B

Tether’s latest quarterly attestation shows the stablecoin giant is continuing to scale its dominance, with $4.9 billion in Q2 net profit and a $13.4 billion increase in USDT supply.

The report, released Thursday, highlights a growing exposure to US Treasuries totalling $127 billion—positioning the issuer as one of the world’s largest holders of US sovereign debt.

With its current assets surpassing liabilities by over $5 billion, Tether’s operational model remains profitable, while its investment arms expand into AI, energy, and communication infrastructure to diversify long-term earnings.

Tether added over $13.4 billion in new USDT in the second quarter alone, bringing its total year-to-date net issuance to more than $20 billion. This puts the total USDT supply above $157 billion as of the end of June 2025.

The report confirms that these tokens are fully backed by Tether’s reserves, with total assets standing at $162.57 billion, compared to $157.1 billion in liabilities—all linked to tokens issued on various blockchains, including Ethereum, Tron, and Solana.

Paolo Ardoino, CEO of Tether, commented:

“Q2 2025 affirms what markets have been telling us all year: trust in Tether is accelerating. With over $127 billion in U.S. Treasury exposure, robust bitcoin and gold reserves, and over $20 billion in new USD₮ issued, we’re not just keeping pace with global demand, we’re shaping it.”

US debt holdings hit $127B

Tether’s exposure to US Treasuries rose to $127 billion in Q2, up from around $119 billion in Q1.

Of this, $105.5 billion is held directly, while $21.3 billion is classified as indirect exposure.

These levels put the company in line with large institutional investors and some central banks in terms of sovereign debt holdings.

This allocation strategy continues to serve as the backbone of Tether’s reserve management.

It also reflects a conservative approach to maintaining liquidity and capital preservation, crucial for maintaining the peg of USDT to the dollar.

Tether’s growing role in global financial markets is closely watched by both regulators and crypto market participants.

Profit totals $5.7B

Tether’s profitability continues to highlight the strength of its business model.

Net profit for the second quarter of 2025 stood at approximately $4.9 billion, bringing the total for the first half of the year to $5.7 billion.

Of this, $3.1 billion came from recurrent profits, excluding mark-to-market gains from holdings in gold and bitcoin, which contributed an additional $2.6 billion.

The figures underscore both the consistency of Tether’s core revenue streams and its operational resilience.

$4B invested in US firms

The attestation also revealed that about $4 billion has already been channelled into strategic investments through its subsidiaries, Tether Investments and XXI Capital.

These funds are being directed towards ventures in AI, energy, digital rights, and open-source infrastructure.

Investments include projects like Rumble and the Rumble Wallet, which align with Tether’s focus on global financial infrastructure and decentralised platforms.

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