Tether reported net income of US$10 billion (AU$15.7 billion) for the first three quarters of 2025, according to its Oct. 31 attestation from BDO, and also expanded USDT’s supply by US$17 billion (AU$26.690 billion) in the same period.
Given Tether reported US$5.7 billion (AU$8.949 billion) for the first half, the third quarter implies at least US$4.3 billion (AU$6.751 billion) in profit based on company disclosures.
USDT has become the biggest financial inclusion success story in the history of humanity, with more than 500 million users across the emerging markets and developing countries.
Paolo Ardoino, CEO of Tether. Related: Blockchain’s Cash Flow Moment: Onchain Revenues Soar Toward $20B
This places the firm alongside top Wall Street earners. To give an idea, the year-to-date figure exceeds Bank of America’s US$8.9 billion (AU$14.0 billion) over the same period and is nearly double US Bank’s US$5.5 billion (AU$8.6 billion).
The company has emphasised expansion in the United States following President Donald Trump’s re-election and the adoption of a federal framework for issuing and trading stablecoins, most importantly, the GENIUS Act, passed in July.
Tether also has plans to launch a US-focused, regulation-tailored stablecoin called USAT by year-end. Unlike USDT, which serves the global market, USAT (led by Bo Hines) is made for institutions and those seeking a regulated alternative to cash and traditional payment systems.
Read more: Australia’s Crypto Sector Welcomes New Rules, but Pushes for Clearer Guidance
Similarly, the company added 8,888.88 Bitcoins to its reserve wallet at the close of Q3 this year, which is around US$1 billion (AU$1.53 billion).
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