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Tether Q2 was the seventh largest pure buyer in American Treasury in 2025. With ~ $ 8 billion in agarious purchases, Tedhar is ranking its reserves as a semi-perfect alloter. It aligns with its business model: high liquid, capturing yield from elevated short -term rates supporting USDT with low -risk assets. This step underlines two dynamics:
- Institutionalization of StableCoins: Tether is now a physical partner in functionally global USD funding markets, with central banks and sovereign money funds.
- Liquidity Concentration Risk: Treasury Bills are becoming the backbone of USDT collateral. Any regulator, liquidity or market shock for this exposure can be revived in crypto markets and short -term dollar funding channels.
Tedar climbing as a top -10 foreign buyer indicates a structural change: StableCoin is no longer only liquidity users within the crypto, but are systematically relevant investors in global sovereign debt markets. For the Treasury, it is helpful in the near period, but the dependence on a private, opaque unit adds a new risk layer to the market stability profile.
Formally on the assets of tokens, the figure technology solutions (after this “figure”) Filed For an IPO. It aims for a nasdac listing under the ticker fig with Goldman Sachs, Jefferies and Bofa Securities, serving as a major underworrator.
The company reported an increase of 22% yoy in revenue for the first half of 2025. Even more is the return of the figure for compelling profitability: $ 29.1 million in net income, reversed a loss of $ 15.6 million in the same period of the previous year. Chitra also revealed that, since the installation, it originated more than $ 16 billion in the home equity loan, and counts more than 160 partners-including the hostage origin, banks, servants and credit unions, including its Provence blockchain-super lending platforms.
In 2025, public markets have seen a vibrant “Crypto IPO Summer”. It was marked by standout debut and filing from prominent players such as circle, bullish, Gemini and others, which were run by renewed regulator clarity, investor enthusiasm and institutional support. Figure technique anchor its strategy around an exchange or stabechoin and separates itself within this wave, but around the actual-world tokens, traditionally, using public infrastructure (perfection), traditionally occur around disorganized assets. With its profitability and healthy development, the figure displays a highly touched use case for blockchain in capital markets.
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