Тethers Net Profit Surges Past $10 Billion Amidst Growing User Base and Market Dominance Текущий заголовок: Tethers 2025 Net Profit Exceeding $10 Billion Signals Strong Demand and Strategic Growth

Tether International reported a net profit exceeding $10 billion for the nine months ending in 2025, as stated in the company’s third-quarter financial report.

As of September 30, the issuer of the largest dollar-backed stablecoin stablecoin had issued approximately 174.4 billion USDT. During the reporting period, the market supply of the coin rose by over 17 billion USDT, marking one of the highest increases for Tether.

The reserves backing the company’s flagship asset reached $181.2 billion, exceeding the value of its liabilities by $6.8 billion.

The total of direct and indirect investments in U.S. Treasury securities hit a record high of $135 billion. In the global rankings of holders of U.S. debt, Tether secured the 17th position, surpassing South Korea.

The number of USDT users worldwide exceeded 500 million.

According to the company’s statement, it continues to invest in developing the ecosystem of the “digital dollar” while also pursuing initiatives in various fields such as artificial intelligence, energy, and P2P communications.

The firm also announced that it has settled claims from Celsius as part of a legal dispute using its own capital. Tether Holdings’ subsidiary, registered in El Salvador, applied for an investment fund license under a recently passed law in the country.

Tether International has launched a stock buyback program, inviting interested institutional investors to participate in a private placement. The company intends to maintain its existing financial buffer of excessive reserves and free capital amounting to around $30 billion.

“The third quarter results reflect Tether’s ability to maintain trust and strength even amidst a challenging global macroeconomic environment, reinforcing our brand as a ‘stablecoin company’. […] Confident growth and discipline demonstrate that Tether not only meets global demand but also fosters confidence in the digital economy as a whole,” stated USDT issuer CEO Paolo Ardoino.

At the time of writing, the total market capitalization of the stablecoin segment approached $311 billion, with USDT and Circle’s USDC dominating at $183.4 billion and $75.8 billion, respectively.

However, JPMorgan analysts highlighted that the on-chain activity and market capitalization of Tether’s competitor are growing significantly faster, according to The Block.

Since January, the supply of USDC has increased by 72%, while USDT’s has grown by 32%. This trend suggests a shift in market interest towards stablecoins that comply with regulatory standards, according to bank experts led by Managing Director Nikolaos Panigirtzoglou.

“Transparent management of USDC reserves and regular audits enhance confidence among institutional investors and other regulated entities. Furthermore, the asset’s compliance with regulations such as the European MiCA framework sets it apart from competitors, making it the preferred stablecoin for financial institutions,” stated JPMorgan analysts.

They believe that the velocity of USDC transactions has notably increased after the establishment of cryptocurrency regulations in the EU, with the additional momentum coming from the adoption of the Genius Act in the U.S.

USDT has not received approval under MiCA and has faced delisting from European cryptocurrency exchanges. In contrast, USDC has gained traction through integrations with Visa, Mastercard, Stripe, and other payment systems. The growth of Circle’s stablecoin has also been supported by its presence on blockchains like Solana and Base, where DeFi activity is expanding rapidly.

Additionally, JPMorgan considers the cross-chain protocol CCTP an advantage for USDC, enabling fast and secure transfer of stablecoins between networks.

USDT remains dominant in exchange trading outside the U.S., but this status could be threatened if the adopted USDC model becomes the standard for stablecoin acceptance globally, the bank’s analysts emphasized.

In October, Ardoino confirmed that Tether will enter the U.S. market by the end of the year with a newly developed regulated stablecoin, USAT.

It is worth noting that the expansion of the stablecoin market in the U.S. could turn into a zero-sum competition if the global volume of assets does not continue to grow correspondingly, as warned by JPMorgan.