Tether's stablecoin, USDT, continues to dominate the market, holding a 61.7% market share with a capitalization of $164.5 billion.

The total circulation of USDT has surpassed $157 billion, with an impressive $20 billion minted since the start of 2025, reflecting strong global demand.

For the first half of 2025, Tether reported a record profit of $5.7 billion, including $4.9 billion in the second quarter, marking a significant increase from the previous year.

This substantial profit is largely attributed to operational income of $3.1 billion and $2.6 billion from mark-to-market gains on Bitcoin and gold investments.

Tether's exposure to U.S. Treasuries has reached $127 billion, making it the 18th-largest holder of U.S. government debt instruments globally.

The company's reserves also include $8.9 billion in Bitcoin, indicating a strategic diversification approach.

CEO Paolo Ardoino emphasized that Tether's financial performance reflects increasing market trust, bolstered by robust reserves.

Despite its financial success, Tether is facing two ongoing legal cases in New York related to past market downturns, without any financial provisions made for these cases.

The regulatory landscape for stablecoins is evolving, highlighted by the recent enactment of the GENIUS Act, which aims to enhance the dollar's digital leadership.

Tether has demonstrated its commitment to compliance by freezing $1.6 million in USDT linked to terrorism financing amid changing regulations.

The growing acceptance of stablecoins is evident as traditional financial players, including Visa, increasingly adopt these digital assets.

Competitors in the stablecoin market, such as Circle and PayPal, are also making significant moves, enhancing the competitive landscape.