As U.S. regulations become increasingly clear, stablecoins continue to gain market recognition, and Tether has reported another strong quarter. The company stated that it achieved a profit of $4.9 billion in the second quarter of 2025, a significant year-on-year increase of 277%.
Tether is the issuer of Tether (USDT), a stablecoin pegged to the U.S. dollar and backed by U.S. Treasury bonds and cash equivalents. According to DefiLlama data, USDt dominates the stablecoin market, accounting for 61.7% of the total stablecoin value. Its market capitalization reached $164.5 billion.
According to Tether's data, as of June 30, its assets amounted to $162.6 billion, with liabilities of $157.1 billion, most of which are related to token issuance.
The company expanded its holdings of U.S. Treasury bonds to $127 billion this quarter, surpassing South Korea to become the 18th largest holder of U.S. debt instruments.
In the first half of 2025, Tether's profit was $5.7 billion, a 9.6% increase from $5.2 billion in the first half of 2024.
According to the report, Tether's position as one of the largest holders of U.S. Treasury bonds comes "at a time when U.S. policymakers are taking decisive action through the GENIUS Act to solidify the dollar's global leadership in digital form."
Tether's competitors are also busy. Circle, a U.S. company and creator of USDC, went public in June 2025. Its stock debuted at $31 per share and quickly soared on the opening day, currently priced at $186.83.
Fintech giant PayPal announced a yield of 3.7% for its stablecoin in April 2025. World Liberty Financial, one of former President Trump's cryptocurrency projects, launched its own stablecoin and invested $10 million in Falcon Finance to develop the blockchain infrastructure for such tokens.
Trump signed the GENIUS Act into law in July, marking the first legislation in the U.S. aimed at stablecoins and their issuers.
European Central Bank advisor Jürgen Schaaf stated on Tuesday that without common stablecoin regulatory rules, the EU would face the risk of dollar dominance. Deutsche Bank, Galaxy, and Flow Traders launched a euro-based stablecoin on the Ethereum blockchain on Thursday.
Related: The White House releases long-awaited cryptocurrency regulatory proposal report
Original: “Tether Posts $4.9 Billion Profit in Q2, Stablecoins Enter the Mainstream”
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