Tether Surpasses $10 Billion in Net Profit Amid Gold Surge
By John Nada·Jan 31, 2026·2 min read
Tether reported a net profit exceeding $10 billion for 2025, driven by growth in USDT supply and increased gold holdings. Tether's financial strength underscores its market dominance.
Tether, the issuer of USDT, reported a stunning net profit exceeding $10 billion for 2025, fueled by robust growth in its token supply and increased investments in U.S. Treasury bonds and gold. The company's fourth-quarter attestation, verified by accounting firm BDO Italy, revealed that Tether holds $6.3 billion in excess reserves against its $186.5 billion in liabilities from issued tokens. Notably, USDT's circulating supply skyrocketed by $50 billion over the year, reaching over $186 billion.
Tether ramped up its U.S. Treasury holdings, achieving $122 billion in direct exposure and $141 billion when including overnight reverse repurchase agreements. This positions Tether among the largest holders of U.S. government debt globally. Additionally, the company reported gold holdings of $17.4 billion and bitcoin allocations of $8.4 billion. Tether is purchasing physical gold at a remarkable rate of up to two tons weekly, potentially exceeding $1 billion in monthly acquisitions, according to a recent Bloomberg interview.
CEO Paolo Ardoino emphasized that with record USDT issuance, reserves surpassing liabilities, and historic Treasury exposure, Tether enters 2026 with a formidable balance sheet. This report arrives amid escalating global demand for stablecoins, with USDT maintaining its dominance as the preferred digital dollar. Tether also introduced USAT, a new stablecoin designed for the U.S. market, in collaboration with Anchorage Digital, aiming to secure a compliant foothold within U.S. regulations.
The significant growth in Tether’s financial metrics highlights its pivotal role in the stablecoin market and suggests a growing trend towards asset-backed digital currencies. As the crypto landscape evolves, Tether's strategic investments and the launch of new products may set a precedent for future developments in the sector.