Tether (USDT) surpasses $10 billion in annual net profit…U.S. Treasury holdings expand to $135 billion

Tether (USDT) surpasses $10 billion in annual net profit…U.S. Treasury holdings expand to $135 billion

The world's largest stablecoin issuer Tether (USDT) has surpassed $10 billion in net profit this year. Its U.S. Treasury holdings have increased to a record level, further strengthening its revenue structure.

On the 31st (local time), according to crypto-focused media The Block, Tether said in its quarterly attestation report that it issued an additional $17 billion worth of Tether during the third quarter of 2025. It did not disclose specific quarterly net profit, but stated that cumulative annual net profit exceeded $10 billion. Considering the $5.7 billion in net profit recorded in the first half up to July, it is estimated that it earned at least $4.3 billion in profit in the third quarter.

Paolo Ardoino, Tether's chief executive officer (CEO), said, "Trust in Tether and financial soundness continue to be strengthened despite a challenging global macroeconomic environment," adding, "these results show the market's firm confidence."

According to Tether's asset composition, its U.S. Treasury holdings amount to $135 billion, a significant increase from the previous quarter. It also holds about $13 billion in metal assets and approximately $10 billion worth of Bitcoin (BTC).

Tether currently has over 500 million users and maintains the No. 1 market share in the stablecoin market. However, J.P. Morgan recently analyzed in a report that, on on-chain transaction volume and market capitalization metrics, Circle's stablecoin USDC is growing faster than Tether.

Meanwhile, Bloomberg reported earlier this month that Tether is seeking to raise up to $20 billion in new investment based on an estimated company valuation of about $500 billion.