Intensifying Battle for Stablecoin Dominance: Tether Records All-Time High Profits, USDC Sees Accelerated Adoption by Institutional Investors

Tether, the leading stablecoin issuer, published its audit report for the third quarter of 2025 on October 31st, revealing that its net profit for the year had exceeded $10 billion (approximately 1.5 trillion yen). The company had previously announced that its profits for the first half of the year were $5.7 billion, indicating that profits for the third quarter alone surpassed $4.3 billion. During the third quarter, more than $17 billion of USDT was newly issued, pushing its total circulation to over $174 billion. Paolo Ardoino, CEO of Tether, stated in a release, 'Despite the challenging global macroeconomic environment, the ongoing trust in and strength of Tether has been proven.'