Tether has released the audit report for the second quarter of 2025. The report was completed by BDO, one of the world's five largest independent accounting firms. The issuance of USD₮ in the second quarter of 2025 exceeded 13.4 billion US dollars, resulting in a circulating supply of over 157 billion US dollars (an increase of 20 billion US dollars since the beginning of the year). The net profit for the second quarter was approximately 4.9 billion US dollars. As of the end of the second quarter of 2025, Tether's total holdings of US Treasury bonds (including 105.5 billion US dollars in direct holdings and 21.3 billion US dollars in indirect holdings) have exceeded 127 billion US dollars (an increase of approximately 8 billion US dollars from the first quarter of 2025), making it one of the largest holders of US Treasury bonds globally.
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