Tether Reports $1B Profit and $120B in U.S. Treasury Holdings for Q1 2025
Tether, the issuer of the USD₮ stablecoin, disclosed a $1 billion profit in its first-quarter 2025 earnings report. The firm’s U.S. Treasury holdings now approach $120 billion, underscoring its conservative allocation to government-backed securities. Global accounting firm BDO verified the figures, which include exposure through money market funds and reverse repo agreements.
Total assets reached $149.3 billion against liabilities of $143.7 billion, leaving $5.6 billion in excess reserves—a decrease from the previous quarter’s $7 billion buffer. The treasury-heavy strategy reflects Tether’s risk-averse approach amid ongoing scrutiny of stablecoin operators’ reserve management practices.