Emre Yumlu 
Tether International Limited (TIL) has officially released its attestation report for the second quarter of 2025. Prepared by the independent global auditing firm BDO, the report confirms the accuracy of Tether’s financial data and reserves. As of June 30, 2025, the report offers a transparent and detailed overview of the assets backing USDT.
USDT Supply Grows by $20 Billion in 2025
The second quarter of 2025 marked a significant milestone in Tether’s global expansion. During this period, the company issued over $13.4 billion worth of new USDT. This brought the total circulating supply to more than $157 billion—representing a $20 billion year-to-date increase. This impressive growth reflects not only the rapid adoption of USDT, but also a deepening global trust in Tether’s stability and operations.
$127 Billion in Treasuries: Tether Among Top U.S. Debt Holders
Tether’s exposure to U.S. Treasury securities has now reached a total of $127 billion, including $105.5 billion in direct holdings and another $21.3 billion held indirectly. This figure marks an approximate $8 billion increase from the previous quarter. With this level of investment, Tether is now positioned as one of the largest institutional holders of U.S. government debt in the world.
Viewed in conjunction with the U.S. government’s GENIUS Act—designed to support the infrastructure of a digital dollar—Tether’s reserve structure stands out as a strong example of how private innovation can align with public monetary policy. This approach allows for secure, onchain access to U.S. dollar liquidity at scale.
Key Financial Metrics Of Tether (As of June 30, 2025)
-
Total assets: $162,574,933,798
-
Total liabilities: $157,108,009,474 (of which nearly all relate to issued USD₮ tokens)
-
Assets exceed liabilities, indicating strong financial health
-
Investments in artificial intelligence, renewable energy, and communications infrastructure are not included in token reserves
A Statement from the CEO
Tether CEO Paolo Ardoino shared his thoughts on the Q2 results:
“The second quarter of 2025 confirms what markets have been telling us all year long: confidence in Tether is growing rapidly. With over $127 billion in U.S. Treasury exposure, solid bitcoin and gold reserves, and more than $20 billion in newly issued USD₮, we are not merely responding to demand — we are helping shape it.”
“As regulators define legal frameworks for a digital dollar, Tether already stands as a working model of what is possible: transparency, resilience, and global scalability. USD₮ is delivering the stability of the U.S. dollar to billions — and that mission is now more relevant than ever.”
In the comment section, you can freely share your thoughts and comments about the topic. Additionally, please don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news.