Tether reveals profit growth to $10 billion in Q3

Tether, the issuer of the USDT stablecoin, stated in its Q3 report that it minted over $17 billion of USDT in the third quarter, with net profit climbing to $10 billion year-to-date.

Tether posts strong profit of $10 billion so far in 2025

Tether has released its financial attestation for the third quarter of 2025, confirming another period of strong performance from July to September.

The report, reviewed by accounting firm BDO Italy, showed that the company's year-to-date profits have climbed above $10 billion. It also saw growth in its excess reserves, surging to $6.8 billion.

The disclosure detailed total reserves of $181.22 billion, compared with $174.45 billion in liabilities, the majority of which are tied to circulating USDT. 

As part of its growth, the company shared that it issued more than $17 billion in USDT in the third quarter of 2025. The quarter marked one of its most successful periods yet and pushed its total circulation past $174 billion.

"Q3 2025 results reflect the continued trust and strength behind Tether, even amid a global challenging macroeconomic environment, reinforcing Tether's brand as the 'Stable Company'," said Paolo Ardoino, CEO of Tether.

Tether also emphasized its ongoing efforts to expand the digital dollar ecosystem, which now serves over 500 million users worldwide. The company said it is channeling investments into emerging sectors such as artificial intelligence (AI), energy, and peer-to-peer communication.

Tether also reported that its exposure to US Treasuries, both directly and indirectly, has risen to roughly $135 billion. This milestone positions the company among the top global holders of US government debt, placing it ahead of South Korea at number 17 worldwide.

In addition to its Treasury holdings, Tether disclosed that its gold and bitcoin reserves were valued at $12.9 billion and $9.9 billion, respectively.  Together, these assets account for about 13% of the firm's total reserves.

Tether's strong performance comes despite its absence from the US and EU markets, underscoring its relevance beyond these regions.

However, the stablecoin issuer announced plans to re-enter the US market in September with the launch of its USAT stablecoin.

Last week, CEO Paolo Ardoino stated that Tether is on track to generate around $15 billion in profit for 2025, highlighting the company's exceptionally high profitability, which he estimated at nearly 99%.

His remarks addressed speculation that Tether may be preparing for a public offering. Ardoino suggested that the company's rumored $500 billion valuation would still undervalue its business strength.