Catenaa, Thursday, February 05, 2026-Tether, the world’s largest stablecoin issuer, reported over $10 billion in net profit for 2025, according to its latest independent attestation from BDO.
The company added more than $50 billion of USDT to circulation last year, marking its second-largest annual issuance on record. USDT supply now exceeds $186 billion, fully backed by $193 billion in assets, leaving $6.3 billion in excess reserves.
The bulk of Tether’s holdings are in U.S. Treasuries, valued at $122 billion, making the company one of the largest global holders of U.S. government debt.
In addition to Treasuries, Tether holds roughly 140 tons of gold as a reserve for its gold-pegged XAUT token and as an inflation hedge.
The firm also continues to invest in bitcoin mining, decentralized AI, and peer-to-peer messaging infrastructure, diversifying its digital dollar ecosystem.
Last year, Tether established a U.S.-based subsidiary and officially launched its USAT “Made in America” stablecoin, expanding its footprint in regulated markets. CEO Paolo Ardoino highlighted the company’s disciplined reserve management and strategic investment approach as drivers behind sustained profitability and growth.
Tether’s profit of over $10 billion in 2025 follows $13 billion in 2024, reflecting consistent performance amid rising stablecoin demand. The firm has become one of the most profitable privately held companies globally, leveraging both traditional financial instruments and crypto-native assets to support its USDT and XAUT products.
