Tether Makes Over $10 Billion Profit in First Nine Months of 2025

Highlights:

• Tether made over $10 billion in net profits during the first nine months of 2025.
• By Q3, total reserves reached $181.2 billion, which shows a strong financial position.
• Tether holds $135 billion in U.S. debt, gold, and Bitcoin investments.

Tether International, the company behind USDT, made over $10 billion in net profits in the first nine months of 2025. An independent audit by accounting firm BDO confirmed the accuracy of Tether’s Financial Figures and Reserves Report (FFRR). This shows the company’s strong financial position.

By the end of Q3, Tether’s total reserves reached $181.2 billion, while liabilities were $174.4 billion. The $6.8 billion surplus gives USDT a “strong buffer” and strengthens its status as the world’s largest stablecoin by market capitalization. Tether now holds $135 billion in U.S. government debt. This makes it the 17th largest holder in the world. It even holds more than some countries, like South Korea. This shows that the company is playing a bigger role in global finance.

Tether’s Record-Breaking Growth

Paolo Ardoino, Tether’s chief executive, stated, “Q3 2025 results reflect the continued trust and strength behind Tether, even amid a global challenging macroeconomic environment, reinforcing Tether’s brand as the ‘Stable Company’.” He added that the company’s disciplined expansion and record Treasury holdings “position Tether as a pillar of stability in the financial and tech ecosystem.”

Tether just released its quarterly attestation for Q3 2025.

USDT has become the biggest financial inclusion success story in the history of humanity, with more than 500 million users across the emerging markets and developing countries.

Highlights as of 30 September 2025:
*… https://t.co/XVYeVq1u64 pic.twitter.com/nZ2V1EKZ3x

— Paolo Ardoino 🤖 (@paoloardoino) October 31, 2025

Diversifying its holdings, Tether now holds $12.9 billion in gold and $9.9 billion in Bitcoin, each representing about 13% of total reserves. The stablecoin also issued more than $17 billion in new USDT during Q3 alone, which raised the total circulating supply to over $174 billion.

Tether remains the largest USD-pegged stablecoin. Earlier this month, the firm said its user base exceeded 500 million. In September, Bloomberg reported the company is in discussions to raise up to $20 billion at an estimated $500 billion valuation.

JUST IN: $USDT issuer Tether seeks $20 billion at a $500 billion valuation, making it the most valuable private company alongside OpenAI.

— Watcher.Guru (@WatcherGuru) September 23, 2025

As a private company, Tether does not release traditional quarterly earnings reports. Instead, it provides attestations prepared by BDO. In past quarters, the company has often highlighted and detailed its quarterly profits.

Corporate Moves and Strategic Investments

In October, Tether settled with the bankrupt crypto lender Celsius Network using its own funds. This did not affect the reserves that back USDT. After the settlement, the total USDT in circulation grew past $183 billion. Tether also started a share buyback program to attract institutional investors through private placements. Its parent company, Tether Holdings, applied for an Investment Fund License in El Salvador under the country’s Private Alternative Investment Fund law. 

Beyond USDT, it has put money into artificial intelligence, renewable energy, and communications projects through Tether Holdings and Tether Investments. These investments are separate from the funds backing USDT, showing the company’s wider financial reach.

While Tether has mainly focused on emerging markets, the company is now working to expand in the U.S. This follows President Donald Trump’s re-election and the introduction of a legal framework for issuing and trading stablecoins in the country. Tether plans to launch a U.S.-focused stablecoin called USAT by the end of the year. It will be designed to comply with American regulations.

Tether Unveils USA₮, its Planned U.S.-Regulated Dollar-Backed Stablecoin, and Will Appoint Bo Hines as CEO of Tether USA₮
Follow @USAT_io 🇺🇸https://t.co/w0JxBvttwv

— Tether (@Tether_to) September 12, 2025