Stablecoin issuer Tether reports record user activity and transfers in Q4 2025, with reserves climbing to $193 billion despite declining momentum in the broader crypto market.
Tether announced its USD₮ stablecoin achieved a $187 billion market capitalization in Q4 2025, setting new records for both user numbers and transfer volumes. The company’s reserves also increased to $193 billion, underscoring strong demand for stablecoins despite a general slowdown in the wider cryptocurrency sector. Stablecoins like USDT are often seen as safe havens during volatile market periods, and this growth reflects continuing institutional and retail usage for trading, payments, and hedging.