TechFlow news — On September 28, according to CoinDesk, Wormhole co-founder Dan Reecer stated at Mercado Bitcoin's DAC 2025 event that in the current high-interest-rate environment, stablecoin giants like Tether and Circle are generating massive profits by retaining yields from U.S. Treasuries backing their tokens, while stablecoin holders are unable to share in these returns. Data shows that Tether alone posted a net profit of $4.9 billion in the second quarter of this year, with the company's valuation soaring to $500 billion.
New platforms M^0 and Agora are developing new stablecoin infrastructure designed to channel yields into applications or distribute them directly to end users. Meanwhile, the stablecoin market is evolving toward real-world use cases such as cross-border payments and foreign exchange services, with the global stablecoin market cap surpassing $290 billion.
In response, a Tether spokesperson said USDT is positioned as a digital dollar rather than an investment product and currently serves primarily users in emerging markets, helping them cope with inflation and unstable banking systems.
