$USDT Tether, the issuer behind the world’s largest stablecoin USDT, has reported a strong first quarter with $1.04 billion in net profit and a record $8.23 billion in excess reserves.
According to the company’s latest quarterly attestation, Tether now holds nearly $192 billion in total assets against slightly more than $183.5 billion in liabilities, reinforcing the company’s position as one of the largest players in the digital asset ecosystem.
A significant portion of Tether’s reserves remains invested in U.S. government-backed instruments, highlighting the firm’s continued focus on liquidity and stability. Alongside traditional reserves, Tether also disclosed exposure to alternative assets, including:
Approximately $20 billion in physical gold
Around $7 billion in Bitcoin
The circulating supply of USDT remained relatively stable during the quarter, with token-related liabilities standing at roughly $183 billion as of March 31.
Interestingly, Tether noted that stablecoins are increasingly being adopted for international payments and cross-border settlements, a trend that continues to strengthen the role of digital dollars in global finance.
While the company did not provide direct comparisons to previous quarters or year-earlier figures, it revealed that total net profit for 2025 exceeded $10 billion, underlining the scale of its operations and growing influence in the crypto economy.
As regulatory scrutiny around stablecoins intensifies worldwide, Tether’s latest numbers are likely to fuel ongoing debates about transparency, reserve management, and the future of digital payments.
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