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Tether Earned $10 Billion on Your USDT: You Got Zero

Tether made $10.8 billion in 2025 investing USDT reserves in U.S. T-bills. USDT holders received zero. Hyperliquid's AQAv2 may finally change that math.

Francesco CampisiBy Francesco Campisi Updated 24 Jul 2026 4 min read How we work

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