Tether’s $4.9B Q2 Profit Soars – Now Holds $127B in US Treasuries (More Than Most Banks!)

Tether just flexed its balance sheet harder than a Wall Street bank on steroids.

Stablecoin Giant Prints Money (Literally)

The controversial dollar-pegged crypto powerhouse raked in profits that'd make Jamie Dimon blush—$4.9 billion last quarter alone. Meanwhile, its stash of US government debt ($127 billion and counting) now rivals small nations' reserves.

Blackrock Who?

While traditional finance scrambles for yield, Tether's treasury holdings could buy every Senator—twice. Guess those 'risky crypto' skeptics forgot who's actually buying America's debt these days.

Cynical Take:
Nothing says 'stable' like profits bigger than Venezuela's GDP and enough T-bills to crash a congressional hearing. But hey—at least someone's keeping the US deficit musical chairs game going.

Tether’s treasury holdings and profits

Tether’s exposure to U.S. Treasuries now totals $127 billion, including $105.52 billion in direct holdings and $21.3 billion in indirect exposure through money market funds and reverse repurchase agreements.

This ranks Tether among the largest private holders of U.S. government debt globally.

The company reported a net profit of $4.9 billion for Q2 2025, bringing its year-to-date profit to $5.7 billion.

Of the quarterly profit, $3.1 billion came from recurring operations, while $2.6 billion was attributed to mark-to-market gains on Bitcoin and gold holdings.

Reserve details

Tether’s reserves also include $8.93 billion in bitcoin and $8.73 billion in physical gold, with $16.34 billion in overnight reverse repos and $10.14 billion in overcollateralized secured loans.

Regulatory and legal developments

Tether completed its relocation from the British Virgin Islands to El Salvador in January 2025 and now operates under El Salvador’s Digital Asset Issuance Law.

The company is currently facing two unresolved civil litigations in New York courts; no provisions were recorded for these cases as of the attestation date.

Attestation details and reserve transparency

The Q2 2025 attestation was executed under ISAE 3000 standards and highlighted that figures represent a point-in-time snapshot, not accounting for extraordinary market conditions.

BDO’s report confirmed that Tether’s shareholder equity remains stable at $5.47 billion, serving as a solvency buffer for the USDT stablecoin.