Tether's Bitcoin Holdings Rise to Nearly $10B as Profits Surpass $10B

Tether, the issuer of the world's largest stablecoin, reported that its net profits for 2025 have exceeded $10 billion as of the third quarter. This surge in profit aligns with a significant increase in the company's market capitalization to $174 billion and an increase in circulating USDT by $17 billion. Tether's report, verified by BDO Italy, indicates that the company maintained $6.8 billion in excess reserves, securing it against $174.4 billion in liabilities. Furthermore, Tether's exposure to U.S. Treasuries has climbed to $135 billion, ranking it as the 17th largest holder of U.S. debt. In its quarterly attestation, Tether disclosed $12.9 billion in gold and $9.9 billion in Bitcoin holdings. As part of its strategy, Tether initiated a share buyback program targeting institutional investors and applied for an investment fund license in El Salvador. Additionally, the company is also planning to launch a new stablecoin, USAT, focused on the U.S. market, later this year.

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