Overview
- Tether posted a $4.9 billion net profit in Q2 2025, lifting its first-half earnings to $5.7 billion.
- USDT issuance surged by $13.4 billion during the quarter, pushing total circulating supply above $157 billion.
- Reserves fully back all USDT tokens and include over $127 billion in U.S. Treasuries alongside significant Bitcoin and gold holdings.
- About $4 billion of Q2 profits have been invested in U.S. ventures such as XXI Capital and the Rumble Wallet.
- Tether is preparing for on-shore issuance under the GENIUS Act and faces two unresolved lawsuits in New York.