Drift Protocol secures $147.5M in funding, including $127.5M from Tether, to replace Circle stablecoin with USDT after a $270M exploit linked to North Korea
Drift Protocol secures $147.5M in funding, including $127.5M from Tether, to replace Circle stablecoin with USDT after a $270M exploit linked to North Korea
What to know: … Drift Protocol, the victim of a recent North Korean exploit, plans to relaunch with Tether's USDT as its settlement layer …
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.
Tether, the world's largest issuer of stablecoins, says it has hit 500M users; the supply of USDT nears ~$182B while Circle's USDC has ~$75B in circulation
RT Watson / The Block :
Tether had $13B in 2024 net profits, including ~$7B from its US Treasuries and repo holdings, and $5B from unrealized appreciation of gold and bitcoin holdings
Tether, the crypto company behind the largest stablecoin USDT, said on Friday it generated $13 billion group-wide net profits last year in a record-breaking year.
Chainalysis study based on first-time use of digital wallets from January 1 to October 8, 2024: Tether's USDT has gained traction in EMEA time zones
Bloomberg :
Tether reports Q3 net profit of $2.5B, driven by yields on its US Treasury and gold holdings and bringing YTD profit to $7.7B, as USDT's market cap nears $120B
Krisztian Sandor / CoinDesk :
Circle raises its fees to 0.03%+ per transaction for near-instant USDC redemptions above $2M; CoinGecko: USDC's market circulation is $35B, below USDT's $123B
Emily Nicolle / Bloomberg :
Sources: Robinhood and Revolut are exploring offering their own stablecoins; Tether's USDT has grown to $120B, accounting for over two-thirds of market value
Report Yueqi Yang / The Information : Robinhood, Revolut Reportedly Explore Launching Stablecoins Joshua Ramos / Watcher Guru : Robinhood and Revolut Consider Launching Their Own Stablecoins Estefano ...
DefiLlama and Wintermute: the aggregate market cap of stablecoins crossed $164B for the first time since the collapse of Terra in May 2022; USDT is at $114.26B
Omkar Godbole / CoinDesk :