Tether Achieves $10B in Year-to-Date Profits
Tether, the company behind the USDT stablecoin, has exceeded $10 billion in profit for 2025’s first nine months. This milestone underscores its dominance in the stablecoin sector and reflects the firm’s expanding financial diversification. The results highlight continued confidence from global investors and institutions.
Expanding Market Cap and Circulating Supply
By the end of the third quarter, Tether had issued over $17 billion in new USDT, pushing total circulation beyond $174 billion. According to data from BDO’s latest attestation report, USDT’s market cap has now reached $183.3 billion. This marks a 34% increase since the start of the year, reinforcing Tether’s position as the world’s largest stablecoin.
Strong Exposure to U.S. Treasuries
Tether’s balance sheet shows a record $135 billion exposure to U.S. Treasuries, either directly or through money-market instruments. This heavy allocation reflects its commitment to maintaining liquidity and capital stability. The company’s reliance on secure government assets helps bolster investor confidence during volatile market conditions.
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Diversified Reserves Beyond Stablecoins
In addition to Treasuries, Tether’s asset mix includes $12.9 billion in gold and $9.9 billion in Bitcoin. This diversification demonstrates Tether’s evolving strategy toward broader financial markets. Analysts say these holdings provide resilience against currency fluctuations and inflationary pressures.
$6.8B in Excess Reserves Strengthens Financial Stability
Tether reported $6.8 billion in excess reserves, offering a solid buffer beyond its liabilities. This margin underscores its conservative financial management approach. The company’s transparency efforts, including regular attestations by BDO, have improved market trust compared to earlier years.
Institutional Buyback Program Attracts Interest
Tether recently introduced a share buyback program open to institutional investors. The initiative aims to attract private placement participants seeking stable, yield-backed exposure. Market observers view this as a move to strengthen corporate governance while rewarding early backers.
Expansion Plans Reach El Salvador
Tether has submitted an application for an investment fund license in El Salvador under the new Private Alternative Investment Fund law. The firm’s expansion aligns with El Salvador’s growing role as a crypto-friendly jurisdiction. If approved, this license could position Tether as a key player in the country’s financial innovation landscape.
Outlook: Tether’s Momentum Points to Continued Growth
Tether’s impressive profits and growing global footprint highlight its sustained market leadership. With rising adoption of USDT, robust diversification, and transparent reporting, the company appears poised for further expansion. As stablecoins continue integrating with global finance, Tether remains at the forefront of the digital asset revolution.
