Tether rakes in over $10 billion net profit in 2025 as excess reserves top $6.3 billion
Tether reported over $10 billion in net profit for 2025, with excess reserves reaching $6.3 billion backed largely by U.S. Treasuries.Summary
Tether, the leading stablecoin issuer, announced a net profit exceeding $10 billion for 2025, as detailed in its annual attestation from BDO. This performance followed a record year in 2024 where profits were over $13 billion. The company strategically managed reserves across U.S. Treasuries, digital assets, and proprietary entities to sustain this growth. Tether's total USDT in circulation reached an all-time high of over $186 billion, supported by $193 billion in assets, resulting in $6.3 billion in excess reserves. A significant portion of these holdings, $122 billion, is in Treasurys, positioning Tether as a major global holder of U.S. government debt. Additionally, Tether holds approximately 140 tons of gold and launched a U.S.-based subsidiary issuing the USAT stablecoin in 2025.
(Source：The Block)