Tether (USDT) has released its latest earnings report, showing a year-to-date profit of $10 billion. Year-to-date profits exceeded $10 billion, with excess reserves totaling $6.8 billion, the report said. Thanks to the 2025 stablecoin rally, Tether is expected to make $15 billion this year.
Tether has reported reserves of $181.22 billion and debt of $174.45 billion, including $174.36 billion related to tokens in circulation. USDT issuance increased by more than $17 billion during the third quarter, with circulating supply exceeding $174 billion. “Our results for the third quarter of 2025 reflect the continued confidence and strength behind Tether amidst a challenging global macroeconomic environment, reinforcing Tether’s brand as a ‘stable company,’” said CEO Paolo Ardoino. “Investors and users alike continue to look to USDT as the most reliable and liquid digital dollar, demonstrating their enduring confidence in the Tether model,” Ardoino said.
Additionally, in September, Tether also announced USAT, a new stablecoin regulated in the United States under the GENIUS Act. “The simultaneous introduction of both the token and CEO reflects Tether’s commitment to providing a US-regulated, dollar-backed stablecoin backed by transparent reserves, strong governance, and US leadership from day one,” Tether said. USDT is already a premium stablecoin offered by Tether with a market capitalization of over $169 billion.
The approval of the GENIUS Stablecoin Act this summer opened the floodgates for institutions to get into cryptocurrencies and stablecoins in particular, sending the industry’s value soaring. Stablecoins are currently attracting worldwide attention and many customers are looking to find alternatives to fiat currencies. This allowed issuers such as Tether and Circle to grow in 2025 and institutional investor interest to record highs.
