Tether ends 2025 with over $10 billion in profits, consolidating its position as the leader in stablecoins. Its influence now extends beyond the crypto ecosystem, with significant exposure to US Treasury bonds that places it among the world’s largest sovereign creditors.
Tether asserts its position as leader in the stablecoin market and is already evolving its strategy
According to its latest quarterly report, Tether ends 2025 with staggering figures that attest to its position as the leader in stablecoins, even surpassing its role as a crypto company.
The company announced a net profit of over $10 billion, a performance that places it ahead of many publicly traded companies in the United States. If it were listed on the S&P 500, Tether would rank around 25th. This achievement is all the more remarkable given that it employs only about 100 people, a small workforce compared to other giants in the ranking.
Tether also reports that the number of USDT users has surpassed 530 million, while the token’s capitalization has reached a historic high of $186 billion.
The issuance of new USDT is following an almost exponential trajectory. Starting from a market cap of $137 billion, the stablecoin recorded an increase of nearly $50 billion in 2025, representing growth of 36.5%. The second half of the year alone saw an increase of $30 billion in USDT.
To guarantee the convertibility and stability of its tokens, Tether now holds $193 billion in assets in reserve. This level of coverage allows it to build up excess reserves of more than $6 billion, acting as a safety cushion. This reassures investors and absorbs the volatility of reserve assets to protect the stablecoin’s parity with the dollar.
Tether becomes systemic and breaks free from cryptocurrencies
Beyond its spectacular profits, it is Tether’s reserve structure that is attracting the most attention. The issuer of USDT has established itself among the largest creditors in the United States, with more than $140 billion held in U.S. Treasury bills, including reverse repos.
Tether thus anchors the stablecoin’s reserves in what is considered the safest and most liquid asset in global finance, while generating significant passive income through interest rates.
For Paolo Ardoino, CEO of Tether, however, the issue goes beyond simply accumulating assets:
What matters in 2025 is not just the scale of growth, but the structure that supports it. USDT has grown because global demand for dollars is increasingly shifting outside traditional banking channels, particularly in regions where financial systems are slow, fragmented, or inaccessible. Thanks to its network effect and parabolic growth, USDT has become the most widely adopted social monetary network in human history.
Through the Tether Global Investment Fund, the company has already reinvested more than $20 billion of its profits in strategic sectors. These investments, which are strictly separated from the reserves backing USDT, target areas such as artificial intelligence, energy, precious metals, agriculture, and decentralized communication applications.
