Tether Surpasses $10B Net Profit in 2025, Expands US Treasuries Holdings

Financial Performance - Tether International reported net profits exceeding $10 billion for the year, with expectations to reach $15 billion by the end of 2025 [1] - The company closed Q3 2025 with excess reserves of $6.8 billion, indicating a strong financial buffer above outstanding liabilities [6] US Treasury Holdings - Tether's total exposure to US Treasuries reached approximately $135 billion, making it the 17th-largest holder of US government debt globally [2] - The company issued over $17 billion in new USDT during Q3, increasing the circulating supply to over $174 billion [3] Market Position and User Base - By October 2025, the number of USDT tokens in circulation surpassed $183 billion, contributing to a stablecoin market cap exceeding $300 billion [4] - Tether's user base has expanded to over 500 million, driven by global demand for reliable stablecoins amid macroeconomic volatility [4] Reserve Strategy - Tether's reserves included $12.9 billion in gold and $9.9 billion in Bitcoin, accounting for around 13% of total reserves [5] - The company maintains a separation between proprietary investments in AI, energy, and communications and the reserves backing USDT [5] CEO Insights - Tether's CEO, Paolo Ardoino, emphasized the results as a sign of continued trust and growth, with increasing investor interest in USDT for stability and liquidity [7]