Tether CEO Reveals $127B Treasuries, $20B USD₮ Growth

Tether CEO Paolo Ardoino has shared new figures from the company’s Q2 2025 attestation report. The update confirms strong growth in USD₮ issuance and record exposure to U.S. Treasuries. Ardoino emphasized growing market trust and outlined Tether’s expansion plans in the United States.

The report, completed by accounting firm BDO, confirms the accuracy of Tether’s reserves. It also reinforces the company’s position as a stablecoin leader with global scale.

USD₮ Supply and Treasury Holdings Hit Record Levels

As of June 30, 2025, Tether had issued 157.1 billion USD₮, a $20 billion increase year-to-date. The token supply rose by $13 billion in Q2 alone, driven by rising demand across global markets.

Chart: USD₮ market cap growth by quarter, by @paoloardoino on X

Tether now holds over $127 billion in U.S. Treasuries, combining both direct and indirect exposure. That marks an $8 billion increase from Q1 and places the company among the world’s largest holders of U.S. government debt.

Total reserves reached $162.5 billion, exceeding liabilities by $5.47 billion. This cushion, made entirely of liquid assets, supports Tether’s 100% reserve claim.

Profitability and Strategic Investments Signal Strength

Tether posted a net profit of $4.9 billion for Q2 2025. Year-to-date profits total $5.7 billion, including $3.1 billion in operational earnings. The rest came from mark-to-market gains on bitcoin and gold reserves.

The company has reinvested heavily in strategic ventures. Recent funding has gone into XXI Capital and the Rumble Wallet project. Tether has already deployed $4 billion toward U.S.-based infrastructure development this year.

These moves reflect a shift from passive asset management to active, long-term ecosystem building. The goal: to broaden the utility and accessibility of digital dollars worldwide.

A Global Role in Dollar-Based Finance

Tether’s growing reserves and profitability align with its wider mission. Ardoino described the firm as a “proven model” for digital dollar innovation. USD₮ now plays a critical role in remittances, payments, and on-chain finance across 150+ countries.

As regulators introduce frameworks for stablecoins, Tether aims to lead with transparency and scale. Its financial posture shows strength, while its strategic direction highlights a vision beyond issuance.

“We’re not just keeping pace with demand,” Ardoino stated. “We’re shaping it.” Tether’s Q2 results reflect more than growth; they signal growing responsibility in shaping global access to stable, digital dollars.