Tether’s USDT supply has increased by $26 billion in 2025, pushing its market cap to $163.6 billion as global demand for stablecoin grows.
Stablecoin-issuer Tether has become the 18th-largest holder of United States Treasurys globally, surpassing the holdings of South Korea, according to a recent attestation report.
On Thursday, Tether said in its attestation report for the second quarter of 2025 that it holds $127 billion in US Treasury bills. The company said it has $105.5 billion in direct US Treasury exposure and $21.3 billion held indirectly.
Tether’s current holdings show a $7 billion increase from the first quarter. On May 19, the stablecoin issuer reported having $120 billion in T-bills, overtaking Germany’s holdings to take the 19th spot.
