Tether disclosed one other robust quarter as stablecoins proceed to achieve traction amid rising regulatory readability in the US. The corporate mentioned it posted $4.9 billion in revenue for the second quarter of 2025, a 277% improve compared 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. According to 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 response to Tether, it had $162.6 billion in belongings and $157.1 billion in liabilities as of June 30, with many of the liabilities regarding token issuance.
The corporate additionally expanded its publicity to US Treasurys to $127 billion throughout the quarter, passing South Korea to become 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,” based on the report.
Associated: Global demand grows for non-dollar stablecoins, says Fireblocks exec
Tether opponents make strikes
Tether’s opponents 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, quickly soared on opening day and is at present sitting at $186.83 on the time of this writing.
Fintech big PayPal announced a 3.7% yield on its stablecoin in April 2025. World Liberty Monetary, certainly 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 law in July, the primary laws focusing on stablecoins and its issuers in the US.
Jürgen Schaaf, an adviser to the European Central Financial institution, mentioned on Tuesday that the EU risks dollar dominance with out frequent guidelines governing stablecoins. Deutsche Financial institution, Galaxy and Circulation Merchants debuted a EURO-backed stablecoin on the Ethereum blockchain on Thursday.
Journal: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
