Non-listed companies (public companies) do not have mandatory disclosure of financial reports.

However, Tether, the issuer of the world's largest stablecoin $USDT, announced its second-quarter financial report for the period ending June 30, 2025, with a net profit of approximately $4.9 billion and an issuance of over $13.4 billion USDT.

Since 2025, an additional $20 billion USDT has been issued, holding $127 billion in U.S. Treasury bonds, including $105.5 billion directly held and $21.3 billion indirectly held, an increase of about $8 billion compared to the first quarter, making it one of the largest holders of U.S. Treasury bonds in the world.

In the first half of 2025, the net profit reached 5.7 billion USD, of which the recurring profit was 3.1 billion USD, and the appreciation of held gold and Bitcoin was 2.6 billion USD.

In the first half of 2025, major strategic investments were made in Twenty One Capital $XXI and Rumble $RUM.

As of June 30, 2025, Tether disclosed total assets of 162.5 billion USD and total liabilities of 157.1 billion USD.