Ask about Tether · freeKey Metrics
Fees 30d$523.71m
Fees 30d by chain
Off Chain$523.71m
Fees 7d$123.28m
Off Chain$123.28m
Fees 24h$17.58m
Off Chain$17.58m
Cumulative Fees$20.161b
Off Chain$20.161b
Revenue 30d$523.71m
Revenue 30d by chain
Off Chain$523.71m
Revenue 7d$123.28m
Off Chain$123.28m
Revenue 24h$17.58m
Off Chain$17.58m
Cumulative Revenue$20.161b
Off Chain$20.161b
Total Raised$600m
Nov 23, 2023$600mRound: EquityInvestors: Cantor Fitzgerald
Protocol Information
Tether is a company that issues the USDT stablecoin, facilitating stable value transfers across blockchain networks
Methodology
Fees: Asset yields from USDT backing investments: US Treasury Bills and other fixed-income assets like repos, commercial paper, money market funds and secured loans.View code on GitHubRevenue: Asset yields from USDT backing investments (US Treasury Bills and other fixed-income assets like repos, commercial paper, money market funds and secured loans) collected by Tether.View code on GitHubHacks
Date: Nov 19, 2017
Amount: $30.95m
Classification: Key Compromise
Technique: Private Key Compromised
Chains: Bitcoin
Target Type: Token
Competitors
Tether history
Fees and revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Nov 2024 | $408.47m | $408.47m |
| Dec 2024 | $442.55m | $442.55m |
| Jan 2025 | $435.28m | $435.28m |
| Feb 2025 | $403.95m | $403.95m |
| Mar 2025 | $450.91m | $450.91m |
| Apr 2025 | $443m | $443m |
| May 2025 | $480.39m | $480.39m |
| Jun 2025 | $477.64m | $477.64m |
| Jul 2025 | $512.22m | $512.22m |
| Aug 2025 | $511.35m | $511.35m |
| Sep 2025 | $483.83m | $483.83m |
| Oct 2025 | $514.6m | $514.6m |
| Nov 2025 | $501.4m | $501.4m |
| Dec 2025 | $498.37m | $498.37m |
| Jan 2026 | $497.11m | $497.11m |
| Feb 2026 | $446.93m | $446.93m |
| Mar 2026 | $496.17m | $496.17m |
| Apr 2026 | $486.22m | $486.22m |
| May 2026 | $509.35m | $509.35m |
| Jun 2026 | $486.69m | $486.69m |
| Jul 2026 | $498.7m | $498.7m |
| Aug 2026 | $494.17m | $494.17m |
| Sep 2026 | $505.22m | $505.22m |
| Oct 2026 (to date) | $349.36m | $349.36m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/tether
Frequently asked questions
What chains does Tether operate on?
Tether operates on Off Chain.
How much has Tether generated in fees and revenue?
Over the past 30 days, Tether generated $523.71m in fees. Of that, $523.71m was protocol revenue. Based on the trailing year, the annualized rate is $5.952b in fees and $5.952b in revenue.
How does Tether's TVL compare to similar protocols?
Among Stablecoin Issuer protocols tracked by DefiLlama, Tether ranks #3 by TVL. The category holds $211.73m across 6 protocols, and Tether accounts for 0% of that total. Similar protocols include M0, Circle USDC, MetaMask USD, Paxos Stablecoin Issuer, and Ripple USD.
Has Tether ever been exploited?
Tether has 1 recorded security incident. The most recent incident occurred on Nov 19, 2017 and involved $30.95m. It was classified as Key Compromise.