Tether earned more than $10 billion in profit during the first three quarters of 2025. The company, headquartered in El Salvador, released its third-quarter report prepared by BDO, a respected accounting firm.
The report confirms that Tether remained financially strong as of September 30, 2025, showing continued growth even as the global economy faced difficulties.
According to the report, Tether issued $17 billion in new USDT during the third quarter, increasing its total supply to about $174 billion. The company’s total assets were valued at more than $181 billion, while its liabilities amounted to $174 billion.
As a result, that leaves a surplus of about $6.8 billion in excess reserves. In addition, Tether’s gold holdings are now $12.9 billion, and its Bitcoin reserves are $9.9 billion.
Furthermore, Tether’s exposure to U.S. Treasuries hit a record high of $135 billion, making it one of the world’s biggest holders of U.S. government debt. The company now ranks 17th globally, above South Korea.
CEO Paolo Ardoino said the results show the strong trust and confidence users have in Tether. “Q3 2025 results reflect the continued trust and strength behind Tether, even amid a global challenging macroeconomic environment,” Ardoino said. He called Tether the “Stable Company,” noting it has become a key player in both finance and technology.
Additionally, the firm said it has applied for an Investment Fund License in El Salvador under the new Private Alternative Investment Fund law. It settled its legal dispute with Celsius using its own investment funds, without touching reserves backing the stablecoin.
Moreover, Tether also launched a share buyback plan for institutional investors while maintaining a strong capital base of nearly $30 billion in equity.
That said, Tether’s attestation reports are not full audits but show the company’s commitment to transparency. The firm said it now serves over 500 million users worldwide, proving the growing demand for stable digital currencies.
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