Want to know how much Tether has made since 2021...? Since May of 2021, which is as far back as DefiLlama's data goes, @Tether has generated roughly $19.6 BILLION in yield from the assets backing its $USDT stablecoin. By comparison, @Circle has generated just $7.4 billion from

What happened

Since May 2021, Tether, the company behind the USDT stablecoin, has earned about $19.6 billion in yield from the assets backing its coin. By comparison, Circle, which issues a similar stablecoin, has earned $7.4 billion, according to DefiLlama data.

Confirmed

Global impact / market context

Tether's larger yield means it earns more from holding reserves, which could strengthen its financial position. This may give it more cash available to support its stablecoin's value, affecting investor confidence in USDT and the broader stablecoin market.

Analyst inference

Stablecoins like USDT are used for trading and transfers in crypto markets. Higher earnings for Tether could widen its lead over competitors, influencing market share and the stability of the crypto trading ecosystem, as USDT is widely used for buying other digital assets.

Analyst inference

What to watch

1. Tether has generated $19.6 billion in yield since May 2021, while Circle has generated $7.4 billion, based on DefiLlama's data that starts from that date. Confirmed
2. Monitor whether Tether's yield advantage grows or shrinks in future earnings reports, which could indicate changes in its reserve management or market conditions. Proposed
3. Investors should watch for any regulatory actions on stablecoin reserves, as that could alter how much yield Tether can earn, impacting its profitability and USDT's stability. Analyst inference

Affected assets

• USDT — Tether

Evidence

• x.com