Tether Reports $10 Billion Profit in 2025 So Far—Here's How That Compares to the Big Banks

Tether reported $10 billion in profit for the first three quarters of 2025, surpassing major banks like Bank of America which had $8.9 billion. Its profits primarily arise from returns on $135 billion in U.S. Treasuries backing its USDT reserves. This remarkable income positions Tether among the top earners in finance, closely trailing major players like Goldman Sachs and Morgan Stanley. Despite Tether's growth, it remains far smaller than JP Morgan, which made nearly $44 billion this year. Tether issued over $17 billion in USDT in Q3, increasing its circulating supply to over $184 billion, emphasizing its role in financial inclusion across emerging markets. Tether plans to launch a U.S.-compliant stablecoin by the year's end, expanding its reach into American markets.

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