Tether’s profit in Q1-Q3 surpassed $10 billion: report

Tether netted a record-breaking $10 billion plus profit in the first nine months of 2025, according to the latest attestation detailing the stablecoin issuer’s financial performance.

USDT issuer shared details of its financial results for the first three quarters of the year on October 31.

The flagship USDT stablecoin and substantial growth in its reserve assets stand out.

Tether smashes past $10 billion in Q1-Q3 profit

An attestation report, independently verified by global accounting firm BDO, shows that Tether International saw its net profit for the period from January to September 2025 surpass the $10 billion threshold

It means Tether has solidified its position as one of the most profitable privately held companies in the world.

Part of the robust financial health came in Q3, despite ongoing global economic volatility capping anticipated upside momentum in October.

Profits have come even as the company expands its investment and sees its global user base surpass 500 million.

Artificial intelligence, energy, and peer-to-peer communication are top milestone endeavors for the company, Tether wrote in a blog post.

USDT issuance explodes in Q3

A key highlight of the third quarter was the issuance of more than $17 billion in new USDT tokens, pushing the total circulating supply beyond $174 billion

Exposure to US Treasuries, both direct and indirect, hit $135 billion.

Tether ranks as the 17th largest holder of US government debt globally, overtaking nations like South Korea.

Additionally, the company’s holdings in gold and bitcoin totaled $12.9 billion and $9.9 billion, respectively.

There’s over $6.8 billion in reserves, and BTC and gold account for approximately 13% of that.

“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’,” said Paolo Ardoino, CEO of Tether.

As noted, Tether’s reserves stood at $181.2 billion as of September 30, 2025, exceeding its liabilities of $174.4 billion.

The $6.8 billion excess reserve is a buffer that provides a strong safeguard for token holders.

Ardoino added:

“Investors and users alike continue to turn to USDT as the most reliable and liquid digital dollar, proving the enduring confidence in Tether’s model… Our consistent growth and discipline show that Tether is not only meeting global demand but also helping reinforce confidence in the broader digital economy.”

Other investments

Notably, Tether manages proprietary investments in sectors such as AI, energy, and infrastructure through affiliates, including Tether Holdings and Tether Investments.

This means the company separates these pursuits from the reserves that back its USDT and other tokens.

Tether saw its tokenized gold token, Tether Gold (XAUT), spike to new highs amid a surge in real-world asset tokenization.

Gold’s march to a record-breaking peak in October also helped XAUT, with the token’s market cap surpassing 1.44 billion to hit the 2.1 billion mark.

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