Tether has reported a profit of $4.9 billion for the second quarter of 2025, which marks a 277% increase compared to the same period in 2024. Over the first half of the year, the company’s total profit reached $5.7 billion, showing a 9.6% rise from $5.2 billion in the first half of 2024. This growth is attributed to the increasing popularity of stablecoins in the cryptocurrency market, bolstered by regulatory clarity in the United States. Tether's stablecoin, USDt, remains dominant, holding 61.7% of the stablecoin market value with a capitalization of approximately $164.5 billion. Tether's liabilities attributed to token issuance totaled $157.1 billion, against $162.6 billion in assets, primarily comprising US Treasurys, where Tether increased its holdings to $127 billion, becoming the 18th-largest holder of US debt instruments. Competitors like Circle and PayPal are also advancing in the stablecoin space, with Circle undergoing an IPO and launching its own stablecoin.

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