Tether profit dips as fundraising fuels valuation push

Investors are watching tether profit figures closely as the leading stablecoin player combines record earnings with an aggressive fundraising push.

Tether financial results show 23% annual decline

Tether, the world’s largest stablecoin issuer, reported a $10 billion profit for 2025, marking a sharp 23% drop from the previous year. However, the company still ranks among the most profitable entities in the crypto sector, despite the decline in net income.

The firm had declared $13 billion in profit the prior year, underscoring the scale of the year-on-year contraction. Moreover, this shift in performance comes at a time when the broader stablecoin market remains under close regulatory and investor scrutiny worldwide.

Fundraising and valuation ambitions

Alongside its latest earnings figures, Tether has launched a fundraising process aimed at significantly increasing its valuation. The move could make it one of the most highly valued private companies globally. That said, details about the structure or size of this capital raise have not yet been disclosed in the public statement.

This new fundraising initiative signals that the company is looking to leverage its still-substantial profit base to expand or diversify its business lines. However, without a full breakdown of business segments, it remains unclear which areas may be driving investor interest and the expected valuation uplift.

Lack of detail on revenue and profit drivers

Tether did not explain the reasons behind the changes in profit or revenue in the statement released on Friday. The absence of a detailed commentary leaves open questions about the specific factors behind the 23% drop, including whether it reflects market conditions, portfolio shifts, or higher operating costs.

Moreover, the limited disclosure contrasts with growing calls for more transparency in the stablecoin industry. Market participants, regulators, and analysts are likely to scrutinize these results closely, especially as tether profit remains central to the company’s valuation narrative during its fundraising phase.

In summary, Tether has reported a notable profit decline from $13 billion to $10 billion in 2025 while simultaneously pursuing a major fundraising that could cement its status as one of the most valuable private companies, even as questions persist about the underlying drivers of its financial performance.