Tether Flips South Korea in US Debt Holdings

Core Insights - Tether has become the 17th-largest holder of United States debt, surpassing countries like South Korea, the UAE, and Germany, and is aiming to overtake Brazil next [1][2] - The company currently holds $135 billion in US Treasury, marking significant growth and indicating that a crypto-based entity has outperformed an industrial state in government bonds [2][3] - Tether's achievements lend credibility to its stablecoin, USDT, which is backed by solid and liquid assets, and the company anticipates reaching nearly $15 billion in net profits by 2025 [3][4] Financial Performance - In 2024, Tether reported over $13 billion in net profit, more than double the $6.2 billion from 2023, showcasing its strong financial performance [5] - The company's low costs and Treasury-backed model are highlighted as key factors contributing to its profit margins [5] User Growth and Ecosystem Expansion - Tether has reached a milestone of 500 million verified users, indicating rapid growth in its ecosystem [6] - The gold-backed token, XAUt, has surpassed $1 billion in market value, driven by gold reaching an all-time high price [6]