Tether, the issuer of the stablecoin USDT, announced that its 2025 net profit will exceed $10 billion, driven by the steady growth of USDT and rising investments in U.S. Treasury bonds and gold. The fourth-quarter financial report signed by the Italian accounting firm BDO shows that Tether holds $6.3 billion in excess reserves, sufficient to offset its $186.5 billion liabilities related to issued tokens. The circulating supply of USDT has grown by $50 billion over the year, exceeding $186 billion. The company continues to increase its holdings of U.S. Treasury bonds, with direct holdings reaching $122 billion, and total holdings, including overnight reverse repurchase agreements, amounting to $141 billion.
This positions Tether among the largest holders of U.S. Treasury bonds globally. Tether also maintains significant allocations in gold and Bitcoin, with holdings of $17.4 billion and $8.4 billion, respectively. These asset choices illustrate a diversified reserve base supporting its token.
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