31-10-2025 – Stablecoin issuer Tether has revealed a colossal financial performance, reporting a year-to-date net profit exceeding $10 billion as of the end of the third quarter of 2025, according to its latest attestation.
The report, dated September 30, 2025, confirmed USDT’s total circulating supply has surpassed $174 billion, driven by over $17 billion in new token issues this year. Tether’s balance sheet strength is underpinned by a $6.8 billion excess reserve buffer, placing its total assets $6.778 billion above its $174.445 billion in liabilities.
Significantly, Tether’s exposure to U.S. Treasuries (direct and indirect) hit an all-time high of approximately $135 billion. This staggering figure makes the stablecoin issuer one of the world’s largest holders of U.S. government debt, ranking 17th globally and surpassing the official holdings of nations like South Korea. Additionally, its reserves include $12.9 billion in gold and $9.9 billion in Bitcoin, the latter accounting for roughly 13% of its total reserves.
