泰达公司：2025年前三季度利润超100亿美元，靠美债增收

Core Insights - Tether, a leading stablecoin issuer, reported profits exceeding $10 billion for the first three quarters of 2025, surpassing the profit margins of some of the largest global banks [1] Financial Performance - The substantial revenue is primarily derived from Tether's holdings of $135 billion in U.S. Treasury bonds, which back every USDT token in circulation [1] - As U.S. Treasury yields increase, Tether's profits are expected to rise correspondingly [1]