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USD₮ Q4 2025 Market Report - A market cap of $187.3B - The eighth consecutive quarter of 30M+ user growth - Tether’s total reserves increased by $11.7B in Q4 to $192.9B, resulting in net equity (assets greater than liabilities) of $6.3B. Total reserves included 96,184 bitcoin, increasing by 9,850 bitcoin in Q4, and 127.5 metric tons of gold, increasing by 21.9 metric tons in Q4. - The USD value transferred on-chain in USD₮ per quarter increased by $248.6B in Q4 to $4.4T, the highest level ever. https://tether.io/news/usdt-q4-2025-market-report/