Tether disclosed one other sturdy quarter as stablecoins proceed to achieve traction amid rising regulatory readability in the USA. The corporate mentioned it posted $4.9 billion in revenue for the second quarter of 2025, a 277% improve in contrast with the identical interval a yr in the past.
Tether is the creator of USDt (USDT), a stablecoin pegged to the US greenback and backed by US Treasurys and money equivalents. In accordance with DefiLlama, USDt continues to dominate the stablecoin market, accounting for 61.7% of all stablecoin worth, with a market capitalization of $164.5 billion at this writing.
In accordance with Tether, it had $162.6 billion in belongings and $157.1 billion in liabilities as of June 30, with a lot of the liabilities referring to token issuance.
The corporate additionally expanded its publicity to US Treasurys to $127 billion throughout the quarter, passing South Korea to turn into the 18th-largest holder of the US debt devices.
Within the first six months of 2025, Tether had a revenue of $5.7 billion, an increase of 9.6% from $5.2 billion within the first six months of 2024.
Tether’s place as one of many largest holders of US treasurys “comes at a time when US policymakers, by the GENIUS Act, have taken decisive steps to solidify the greenback’s international management in digital type,” in response to the report.
Associated: World demand grows for non-dollar stablecoins, says Fireblocks exec
Tether rivals make strikes
Tether’s rivals have been busy as effectively. Circle, a US firm and the creator of USDC (USDC), underwent an preliminary public providing in June 2025. Its inventory, which debuted at $31 per share, rapidly soared on opening day and is presently sitting at $186.83 on the time of this writing.
Fintech large PayPal introduced a 3.7% yield on its stablecoin in April 2025. World Liberty Monetary, considered one of US President Donald Trump’s crypto ventures, has launched its personal stablecoin and invested $10 million in Falcon Finance to develop blockchain infrastructure for such tokens.
Trump signed the GENIUS Act into legislation in July, the primary laws focusing on stablecoins and its issuers in the USA.
Jürgen Schaaf, an adviser to the European Central Financial institution, mentioned on Tuesday that the EU dangers greenback dominance with out frequent guidelines governing stablecoins. Deutsche Financial institution, Galaxy and Movement Merchants debuted a EURO-backed stablecoin on the Ethereum blockchain on Thursday.
Journal: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
