Tether, the world’s largest stablecoin issuer, reported greater than $10 billion in web revenue for 2025 as USDT circulation climbed above $186 billion by 12 months’s finish, in accordance with its This autumn 2025 attestation report.
Complete reserves rose to almost $193 billion, persevering with to exceed liabilities, with extra reserves reaching $6.3 billion.
Almost $50 billion in new USDT was issued throughout 2025, with roughly $30 billion minted within the second half alone as demand surged throughout funds, buying and selling, and rising markets.
Tether’s publicity to US Treasuries reached contemporary data, with direct holdings exceeding $122 billion and complete Treasury publicity topping $141 billion. The figures place the corporate among the many world’s largest holders of US authorities debt.
The corporate’s gold division has additionally expanded quickly as bullion costs reached all-time highs. Tether Gold (XAUT) surpassed $2 billion in market capitalization, accounting for greater than half of all gold-backed tokens in circulation.
CEO Paolo Ardoino mentioned USDT’s development displays rising world demand for {dollars} exterior conventional banking techniques, including that USD₮, with its community impact and parabolic development, has develop into probably the most extensively adopted financial social community in historical past.
