Tether Shatters Records with $10B Profit, Ascends as 17th Largest US Debt Holder Globally
Tether International, the issuer of the world’s largest stablecoin USDT, has reported record-breaking profits of over $10 billion for the first three quarters of 2025, as per a BDO attestation report released this week.
The cryptocurrency company has positioned itself as one of the most profitable privately controlled companies globally. Its success is driven primarily by its massive $135 billion exposure to U.S. Treasury securities. This exposure has catapulted Tether to become the 17th largest holder of U.S. government debt worldwide, surpassing South Korea in the global rankings.
During the third quarter alone, Tether issued more than $17 billion in new USDT tokens, pushing the total circulating supply to over $174 billion. The company’s reserves now stand at $181.2 billion, exceeding its liabilities by $6.8 billion. This provides what CEO Paolo Ardoino describes as “a strong buffer” for token holders.
“Q3 2025 results reflect the continued trust and strength behind Tether, even amid a global challenging macroeconomic environment,” Ardoino stated. The company continues to invest in emerging sectors including artificial intelligence, energy, and peer-to-peer communication while maintaining its core stablecoin operations.