Tether has just reported a record profit of $4.9 billion in Q2.
This is more than any European bank, including Santander, which just set a sector record with $3.9 billion in the same quarter (Q2 2025).
Only a few American banks like JPMorgan (with $18.2 billion in Q2 2024) are doing better.
It's just incredible.
This result is explained by massive use of US government bonds to secure USDT reserves.
Today, USDT, which is the leading stablecoin in the sector, is valued at over $160 billion:
In an interview with @paoloardoino, the head of @Tether_to explained the resilience of their model:
"Even with a potential drop in rates, I think interest rates will remain in a range between 2% and 6% in the coming years, which will still ensure us considerable income. Even if rates drop to 2%, that would still represent $2 billion in annual revenue for us."
These results confirm one thing: the stablecoin business is one of the most profitable in finance.
Long ignored (even scorned) by traditional banks, it is now attracting all their attention. And we understand why!
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