Daniel Kuhn / The Block:
Tether says it generated over $10B in net profits in 2025, down from $13B+ in 2024, and says it holds $193B in assets backing the $186B USDT in circulation — Partner offers — Quick Take — The stablecoin issuer now holds $193 billion in assets backing the $186 billion USDT in circulation, primarily in U.S. Treasuries.
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