Tether’s dollar-pegged stablecoin USDT has reached a record circulation of $188 billion, its CEO confirmed. Supply has risen from early March levels and follows earlier declines in January and February that Tether described as a strategic repositioning. Tether and external data show the company manages about $187 billion in assets and earned more than $10 billion in profit in 2025. Stablecoin use is expanding beyond exchange liquidity into payments, remittances and financial infrastructure, including work by DoorDash and Tempo and moves by major payments firms.

Tether has secured an 8.2 percent stake in bitcoin mining finance platform Antalpha, becoming a major shareholder. A U.S. filing shows Tether holds 1.95 million shares through affiliates, with chairman Giancarlo Devasini sharing voting and disposal authority. Antalpha provides bitcoin-backed loans and mining equipment financing and had a loan portfolio of about $1.6 billion at end-2024. Tether has been widening investments across mining, AI, financial services and tokenised assets.