Tether, the issuer of the world’s largest stablecoin, USDT, continues to demonstrate staggering profitability, announcing that its annual profits have exceeded $10 billion. The company’s latest attestation report, released Friday, reveals a powerful profit engine fueled by swelling holdings of U.S. Treasury bonds.
The company issued an additional $17 billion in USDT during the third quarter, underscoring its dominant market position. While Tether did not specify its net income for Q3 alone, previous statements indicate that profits for the quarter were at least $4.3 billion, following the $5.7 billion earned in the first half of the year.
“Q3 2025 results reflect the continued trust and strength behind Tether, even amid a global challenging macroeconomic environment,” said Tether CEO Paolo Ardoino in a statement.
As a private company, Tether does not release standard quarterly earnings. Instead, it provides attestation reports prepared by the accounting firm BDO. The latest report highlights the immense scale of Tether’s reserves.
The company’s total exposure to U.S. Treasuries now stands at $135 billion. Beyond government debt, Tether also holds nearly $13 billion in precious metals and $10 billion in Bitcoin, solidifying its position as a major force in both traditional and digital finance.
