Tether and Circle minted $3B in stablecoins within a 48-hour window.
DeFi & Yields ·
Circle and Tether expanded their stablecoin supply by $3 billion over a two-day period, according to on-chain monitoring. The minting activity reflects substantial capital inflows into the digital asset market during this window.
The timing coincides with Tether's completion of its first independent financial audit by KPMG U.S., covering the year ended December 31, 2025. The audit firm issued an unqualified opinion on Tether's financial statements, with findings indicating reserves of $6.814 billion exceeded liabilities at year-end 2025. KPMG's examination encompassed balance sheet items, income and cash flow statements, asset valuations, counterparties, and physical verification—including an actual count of individual gold bars in Tether's holdings.
Whether the stablecoin minting was driven by the audit's completion or reflects independent market demand remains unclear. Tether's CEO and CFO have signaled commitment to elevated reporting standards going forward, though no specific timeline or additional disclosures have been announced.