Tether Hits $10B Profit: Now Ranks Among Top 20 US Debt Holders

TLDR

• Tether announced a $10 billion year-to-date profit in its Q3 2025 attestation released on October 31.
• The company holds $135 billion in U.S. Treasuries through direct and indirect exposure.
• Tether now ranks as the 17th largest holder of U.S. government debt worldwide.
• The El Salvador-based company surpassed South Korea in its Treasury position.
• Over $17 billion in new USDT tokens were issued during the quarter.

Tether announced a $10 billion year-to-date profit in its Q3 2025 attestation released on October 31. The USDT issuer holds $135 billion in U.S. Treasuries through direct and indirect exposure. Accounting firm BDO assured the financial report.

The El Salvador-based company now ranks as the 17th largest holder of U.S. government debt worldwide. Tether surpassed South Korea in its Treasury position. The quarter saw over $17 billion in new USDT tokens issued.

The total circulating supply of USDT reached approximately $174 billion. Tether CEO Paolo Ardoino stated the results reflect continued trust in the company. He described USDT as the most reliable and liquid digital dollar available.

Tether Builds Diverse Reserve Portfolio

Tether maintains gold reserves valued at $12.9 billion according to the attestation. The company also holds Bitcoin reserves worth $9.9 billion. These alternative assets combine to total $22.8 billion in value.

The allocation represents approximately 13% of Tether’s total reserves. The reserve base exceeds $181 billion in total. Liabilities amount to $174.4 billion and relate directly to USDT tokens in circulation.

Tether holds a surplus of nearly $6.8 billion above its liabilities. The company claims this buffer is among the strongest in digital assets. The excess reserves provide additional backing for token holders.

Settlement and Corporate Restructuring Initiatives

Tether finalized the Celsius litigation settlement in October using proprietary investment capital. The multi-billion-dollar payout did not draw from reserves backing USDT tokens. This approach demonstrated the company’s financial strength and operational structure.

The company launched a share buyback initiative using its profits. This move is typically associated with mature and cash-rich companies. Tether aims to consolidate ownership and return value through the program.

The buyback reflects confidence in the company’s financial position. Tether continues to operate with strong cash flow. The initiative signals a notable level of corporate maturity for the stablecoin issuer.

Global macroeconomic conditions remained challenging during Q3 2025. Tether maintained its position despite market volatility. Users and investors continued to rely on USDT for transactions.

The company’s Treasury holdings place it among sovereign-scale debt holders. Tether operates as a bridge between traditional finance and digital assets. The attestation confirms the company’s balance sheet strength and adequacy of its reserves.

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