Tether Reveals $10B in Profit and $6.3B in Excess Reserves

• Largest stablecoin issuer Tether made $10 billion in profit last year. 
• Tether closed 2025 with $192.9B in assets, $186.5B in liabilities, and $6.3B in excess reserves.
• Tether has increasingly diversified its global proprietary investment portfolio, which now exceeds $20B.

Tether International has released its fourth quarter 2025 attestation. According to Paolo Ardoino, CEO at Tether, 2025 growth reaffirmed that Tether is the largest stablecoin issuer and most profitable Web3 company.

“USDT expanded throughout the year by 50 billion, because global demand for dollars is increasingly moving outside traditional banking rails, particularly in regions where financial systems are slow, fragmented, or inaccessible,” Ardoino stated.

Tether Reports Profitable Q4 and Entire Year

According to the announcement, Tether’s management confirmed that the company closed on December 31, 2025, with $192,877,729,144 in total assets. The management announced that Tether closed the financial year with $186,539,895,593 in total liabilities. 

Out of the total liabilities reported in 2025, Tether announced that $186,450,610,920 related to digital tokens issued, led by USDT. As such, Tether has $6.3 billion in excess reserves, which strengthened the company’s financial health status, especially against its loans and digital token issuance.

By the end of 2025, Tether reported that it held $122 billion in direct U.S. treasuries. As such, Tether closed 2025 with a total of $141 billion in direct and indirect treasury exposure, which contributed significantly to its $10 billion in profits.

Notably, the company issued $50 billion in new USDT, leveraging the Tron (TRX) chain. More than $30 billion of the newly issued USDT was issued during the second half of 2025. 

Global Growth at Core

In 2025, Tether focused on its global structure to bolster sustainable, scalable growth. According to Ardoino, the company has diversified its proprietary investment portfolio to more than $20 billion.

Some of the sectors that Tether invested in 2025 included Artificial Intelligence (AI), Energy, media, fintechs, precious metals, agriculture, crypto treasury companies, and land through its Tether Global Investment Fund. As such, Tethe strengthened its portfolio amid rising competition in the stablecoin issuance industry.

“What matters about 2025 is not just the scale of growth, but the structure behind it,” Ardoino stated.

Bigger Picture

Tether has grown to one of the most profitable private companies in the world due to the mainstream adoption of stablecoins. It has announced major global partnerships to catalyze the mainstream adoption of digital assets. Moreover, Tether reported that it has more than 530 million global users tapping into its digital dollar ecosystem. As such, Tether has accelerated global adoption of the digital dollar faster than traditional banks.

Related: Tether’s Gold Reserves Hit $23B, Becomes Largest Private Gold Holder Outside Governments