Tether International dropped a bombshell, they raked in $10 billion net profit in just the first nine months of 2025.
Not a bad haul for the people behind USDT, the world’s largest stablecoin, who apparently made a cozy nest in the financial jungle.
The 17th largest holder of U.S. Treasuries
As market experts highlighted, their liabilities sat at a slightly less impressive $174.4 billion, leaving a luscious $6.8 billion buffer to survive whatever storms the market throws.
In the stablecoin ecosystem, that’s like Batman showing up with a utility belt loaded.
The independent accounting wizards at BDO gave Tether’s numbers a big thumbs-up, confirming these figures as rock solid. No smoke, no mirrors, just cold, hard crypto cash and more.
This is like a privately controlled cash cow that’s somehow made itself one of the most profitable companies around.
Tether’s exposure to U.S. government debt is pretty strong, some even say it’s epic.
At $135 billion in Treasury holdings, Tether sits comfortably above countries like South Korea, making it the 17th largest holder of U.S.
Treasuries worldwide. Paolo Ardoino, Tether’s head honcho, called Q3 “proof of continued trust” despite the global economic madness, proudly dubbing the company “the Stable Company.” Call it what you want, but that’s a bold claim backed by billions.
The king of stablecoins
Tether’s not putting all its eggs in one basket. Alongside the Treasuries, analysts say they’re flaunting $12.9 billion in gold and nearly $10 billion in Bitcoin reserves, each making up about 13% of the total treasure chest.
That’s a cryptocurrency CEO’s daydream, balancing between shiny yellow metal and digital gold.
In a single quarter, Tether printed over $17 billion new USDT tokens, boosting total supply north of $174 billion.
With over 500 million users worldwide clutching these digital dollars, USDT towers over rivals like USDC and USDe, standing firmly as the crypto economy’s reigning digital dollar.
Share buyback
Not to be outdone, October saw Tether settle up with the fallen crypto lender Celsius Network, using their own investment capital, without touching the USDT reserve chest.
And they’re opening the corporate doors wider with a share buyback and launching an Investment Fund License bid in El Salvador to make institutional investors drool.
Beyond the stablecoin story, Tether’s reaching into AI, renewable energy, and communications too via its subsidiaries.
Those ventures might not shine on the balance sheet yet, but in the story of Tether, they’re the adventure chapters still to come.
💬 Editor’s Take:
Tether’s story reads like a movie — a once-controversial stablecoin now printing profits like a Wall Street veteran.
$10 billion in nine months is no small feat, especially for a company that was once doubted by nearly everyone in the crypto space.
What’s wild is how deeply they’ve embedded into traditional finance — holding more U.S. debt than entire countries.
Love it or hate it, Tether’s no longer just a crypto company; it’s quietly become one of the financial world’s biggest players. And while others chase hype, Tether’s counting dollars — both digital and real.
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Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
