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flag Tether made $10 billion in profit in 2025, its USDT stablecoin hit $185 billion in circulation, and reserves reached $192.8 billion.

flag Tether reported $10 billion in net profits for 2025, a 23% drop from 2024, while its USDT stablecoin surged past $185 billion in circulation. flag The company’s reserves reached $192.8 billion, including $141 billion in U.S. Treasuries, $17.4 billion in gold, and $8.4 billion in bitcoin. flag Tether expanded its gold-backed XAUT and launched USAT, a new U.S.-focused stablecoin with Anchorage Digital. flag Despite declining profits, demand for USDT remains strong, driven by global need for dollar liquidity outside traditional banking systems.

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