Tether Reports Strong Growth and Excess Reserve in 2025

USDT stablecoin issuer Tether has reported a net profit of over $10 billion for 2025. This attestation, prepared by BDO, one of the top five global accounting firms, confirms the accuracy of Tether’s financial figures and reserves report. 

With its latest report, Tether is becoming financially stronger and gaining more impact on global financial markets, particularly in U.S. government debt. 

Tether Sees Massive Profits and Rising Demand for USDT

The report states that Tether has $193 billion in assets to support the $186 billion USDT currently in circulation. Most of these assets are invested in U.S. Treasuries, which helps assure investors of USDT’s stability and liquidity. With about $122 billion in U.S. Treasury securities, Tether is now one of the largest holders of U.S. government debt worldwide.

In 2025, Tether also had its second-largest annual issuance of USDT in history. The company added over $50 billion in new USDT to the supply, showing strong demand for dollar-backed stablecoins. Interestingly, Tether’s financial results illustrate how rising interest rates have helped stablecoin issuers that hold many yield-earning assets, such as U.S. Treasuries.

In the first nine months of 2025, Tether earned a net profit of more than $10 billion. This made it one of the most profitable private companies worldwide. This also comes as the stablecoin issuer continues to invest in growing its digital dollar ecosystem, which serves over 500 million users globally.

Tether Leans Toward Bitcoin and Gold

In November 2025, the USDT issuer started making major changes to how it manages its reserves. BitMEX co-founder Arthur Hayes said Tether is preparing for a future Federal Reserve rate-cut cycle by increasing its exposure to Bitcoin (BTC) and gold.

Arthur drew attention to Tether’s attestation, which showed less focus on returns from U.S. Treasuries. He said the company is now leaning more towards alternative assets. He believes the company is positioning itself for a world where interest rates fall, and traditional yields become less attractive. However, Arthur cautioned that this strategy is not without danger.

Meanwhile, Tether has continued to increase its Bitcoin holdings. It added a large amount of Bitcoin to its treasury at the end of 2025. Following the most recent additions, Tether’s primary Bitcoin reserve address now holds 96,185 BTC. This puts the company among the top five known Bitcoin holders in the world.

Tether Launches USAT Stablecoin

Recall that Tether recently launched USAT, a new GENIUS-compliant, dollar-backed stablecoin specifically designed for the U.S. market. As reported by TheCoinRise, USAT is designed to operate seamlessly within a dedicated U.S. federal regulatory framework.

The company affirmed that USAT will maintain a one-to-one peg with the U.S. dollar, supported by dollar-dominated reserves. This reinforces trust and stability for institutional and retail participants.