Tether Reports Strong Growth and Solid Reserves in Q3 2025

Tether International has publicly shared its financial reports for the third quarter of 2025. This attestation, prepared by BDO, one of the top five global independent accounting firms. confirms the accuracy of Tether’s financial figures and reserves report.

The latest report shows that Tether is financially strong, makes good profits, and is focused on growing its digital dollar network around the world.

Tether Sees Big Profits and Rising Demand for USDT

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

According to the report, Q3 2025 was a milestone quarter for Tether. The company issued over $17 billion in new USDT, bringing the total supply to more than $174 billion. The steady rise in demand shows that USDT is seeing constant widespread adoption. This growth highlights Tether’s role as the leading digital dollar, valued for its stability, transparency, and global accessibility.

Diversified Reserves and Strong Treasury Holdings

Tether’s reserves are not only large but also diversified. The company has a large portion of the U.S. Treasury securities, making it one of the largest holders of U.S. government debt. The company also holds $12.9 billion in gold and $9.9 billion in Bitcoin (BTC), which together make up around 13% of total reserves. 

By the end of September, Tether’s reserves exceeded its liabilities by nearly $6.8 billion, creating a strong financial cushion. As of September 30, 2025, Tether had $181.2 billion in reserves for its tokens. 

The company’s total liabilities were $174.4 billion. This means the reserves were $6.78 billion more than what Tether owed. The firm also holds $6.8 billion in excess reserves, giving it strong financial support.

Beyond its core business, the company also holds investments in sectors like entertainment industry, artificial intelligence (AI), energy, and peer-to-peer communication. The report noted that investments in AI, renewable energy, and communications are kept separate and are not included in these reserves.

Tether Moves Forward with Strong Reserves and New Investments

In October, Tether settled a legal case with Celsius using its own investment funds, without affecting the reserves backing USDT, which had already exceeded $183 billion. Separately, Tether Holdings applied for an Investment Fund License in El Salvador under the newly adopted Private Alternative Investment Fund law. 

Furthermore, the company also launched a private share buyback program for institutional investors through a private placement deal. Despite these strategic initiatives, Tether continues to maintain billions in excess reserves, with total proprietary Group equity approaching $30 billion. Matt Hougan, CIO at Bitwise, recently predicted that Tether could one day become the most profitable company in the world.