According to a new audit by BDO for Q2 2025, Tether, a major player in the stablecoin market, holds over $127 billion in U.S. Treasury securities.
Tether's Financial Highlights
The report indicates a significant increase in USDT issuance, with $13.4 billion minted in the second quarter alone. For 2025, the total issuance surpassed $20 billion, pushing the circulating supply to over $157 billion.
Tether backs its assets with approximately $162.6 billion against liabilities of $157.1 billion. Shareholder equity stands at $5.47 billion, bolstered by quarterly profits of $4.9 billion. For the first half of the year, total net earnings reached $5.7 billion, driven by both operational income and the rising value of gold and Bitcoin reserves.
Company's Investment Activities
Tether isn't just stacking cash—it's putting it to work. Nearly $4 billion has been funneled into U.S.-based investments so far this year, with projects like XXI Capital and Rumble receiving strategic backing, suggesting a deliberate push to solidify its role far beyond the crypto ecosystem.
Long-term Plans and Mission of Tether
CEO Paolo Ardoino stated that the company's growing footprint reflects a larger mission. "We’re not just keeping up with demand for digital dollars—we’re helping define what that future looks like," he said.
With record profits and a deepening connection to U.S. financial markets, Tether continues to blur the line between crypto and traditional finance.
