Tether reveals how much USDT stablecoin grew in 2025
“What matters about 2025 is not just the scale of growth, but the structure behind it,” said Paolo Ardoino, CEO of Tether.
Tether International on Friday reported net profits exceeding $10 billion in 2025, plus excess reserves of $6.3 billion, and record US Treasury exposure of $141 billion.
In its 'attestation' report for the fourth quarter, supported by BDO, which confirmed the accuracy of Tether’s Financial Figures and Reserves Report, the digital assets org gave a detailed view of USD₮, the US dollar stablecoin, as of December 31.
In 2025, Tether issued nearly $50 billion in new USD₮, about $30 billion of which was issued in the second half of the year, the company said.
Total USD₮ in circulation surpassed $186 billion and total reserve assets climbed to nearly $193 billion, with reserves continuing to exceed liabilities.
“What matters about 2025 is not just the scale of growth, but the structure behind it,” said Paolo Ardoino, CEO of Tether.
“USD₮ expanded because global demand for dollars is increasingly moving outside traditional banking rails, particularly in regions where financial systems are slow, fragmented, or inaccessible. USD₮, with its network effect and parabolic growth, has become the most widely adopted monetary social network in the history of humanity."
"This has been made possible by the trust accrued by our strong risk management setup, unprecedented in the financial sector, and the decisions we make around asset quality, allocation, and liquidity are designed to ensure USD₮ remains reliable and usable at a global scale, even during periods of extreme demand.”
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Direct US Treasury holdings exceeded $122 billion, and total direct and indirect Treasury exposure surpassed $141 billion, including overnight reverse repurchase agreements.
The company said total assets amounted more than $192 billion and total liabilities amount to $186 billion, of which some $186 billion relate to digital tokens issued. It added that the proprietary investment portfolio, funded from excess capital and profits and segregated from USD₮ reserves, exceeded $20 billion.
The Recap
- Tether posted net profits exceeding $10 billion in 2025.
- Total direct and indirect Treasury exposure surpassed $141 billion.
- The company reported $6.3 billion in excess reserves.
