Tether’s $5.7B YTD profit sets stage for new U.S. stablecoin in Q4

Key Points

1. Tether CEO announced plans to launch a new U.S.-focused stablecoin in Q4, separate from USDT, targeting the institutional market for payments and interbank settlements.

2. Tether's YTD profit surged to $5.7 billion, with $127 billion in U.S. Treasury bills exposure backing its global stablecoin USDT.

3. The new stablecoin venture is part of Tether's compliance efforts under the GENIUS Act, which requires 100% backing of reserve assets by U.S. institutional investors.

4. USDT's market cap reached a record high of $163.6 billion, maintaining a $100 billion lead over the second-largest stablecoin, USDC.

5. The new U.S. stablecoin will be designed for the 'highly efficient' U.S. market, focusing on institutional use cases.