Finance
What to know, dear reader, in this age of digital alchemy:
- Tether, that modern-day sorcerer of stablecoins, has conjured a net profit of over $10 billion in 2025. Ah, the magic of USDT and U.S. Treasuries-a marriage of the digital and the dull.
- With $6.3 billion in excess reserves backing $186.5 billion in USDT liabilities, Tether now sits atop a mountain of debt, a dragon guarding its hoard of U.S. government bonds-$141 billion, to be precise.
- And let us not forget the glittering trifles: $17.4 billion in gold and $8.4 billion in bitcoin, because why not sprinkle some stardust on this financial feast?
Oh, Tether, issuer of the world’s most popular stablecoin, USDT, has closed 2025 with a flourish-a net profit of over $10 billion. The fourth-quarter attestation, penned by the scribes of BDO Italy, reveals a buffer of $6.3 billion in excess reserves, a fortress against the $186.5 billion in liabilities. USDT’s supply swelled by $50 billion, a bloated whale in the digital sea.
The firm, ever the voracious collector, has amassed $122 billion in U.S. Treasuries, with overnight reverse repurchase agreements pushing the total to $141 billion. Behold, a titan among holders of U.S. government debt, a Goliath in a world of Davids.
But gold, ah gold-$17.4 billion worth, bought at a pace of two tons a week. And bitcoin, that volatile muse, holds its own at $8.4 billion. Tether’s CEO, Paolo Ardoino, proclaims with a flourish, “Our balance sheet is stronger than a bear market’s resolve!”
The investment portfolio, a separate kingdom, stands at $20 billion. “With USDT issuance at record levels, reserves exceeding liabilities by billions, and Treasury exposure at historic highs, we are the kings of this digital realm,” Ardoino declares, his voice echoing through the halls of crypto.
And yet, the world demands more. Tether, ever the innovator, launches USAT, a stablecoin for the U.S. market, in partnership with Anchorage Digital. A regulatory-compliant dance, a bow to the gods of compliance. Will it suffice? Only time, that fickle mistress, will tell.
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2026-01-31 03:35