Tether, the issuer of the USDT stablecoin, has released its financial results for the third quarter of 2025, showing a net profit of $10 billion since the start of the year, according to an auditor report by BDO.
By the end of Q3, USDT’s market capitalization exceeded $174 billion, with an excess reserve of approximately $6.8 billion. During this period, Tether issued 17 billion USDT, marking one of its most successful quarters to date.
The company’s primary reserve assets remain U.S. Treasury bonds, which accounted for $135 billion of USDT backing in Q3. This positions Tether as the 17th largest holder of U.S. Treasury securities, surpassing South Korea in the rankings.
Other reserve holdings include gold and Bitcoin, which represent 13% of total reserves, valued at $12.9 billion and $9.9 billion respectively. Non-reserve corporate assets amount to around $30 billion, including investments in sectors such as artificial intelligence.
Tether also highlighted several key corporate developments: the completion of its legal settlement with Celsius, the submission of an application for an investment fund license in El Salvador, and the launch of a buyback initiative for existing investors.
CEO Paolo Ardoino commented, “The results for Q3 2025 reflect continued trust and the strength of Tether, even amid complex global macroeconomic conditions, further solidifying Tether’s reputation as a stable and reliable company.”
Previously, Ardoino stated that Tether aims to reach $15 billion in net profit by the end of 2025.
