Attached the issuer of the world’s largest stablecoin, said on Friday that its net profits exceeded $10 billion for this year as its flagship token reached a market capitalization of $174 billion in the third quarter of 2025.
According to the company’s latest attestation signed by accounting firm BDO Italy, the company ended the quarter with $6.8 billion in excess reserves, maintaining a buffer on its $174.4 billion in USDT-related liabilities.
“With its record exposure to U.S. Treasuries, which now stands at $135 billion, this positions our company as the 17th largest holder of U.S. debt,” CEO Paolo Ardoino said in a statement.
The company also held $12.9 billion in gold and $9.9 billion in bitcoin. according to the certificate.
Tether also announced the launch of a share buyback program, with “potential participation from institutional investors interested in a private placement.” Bloomberg reported earlier that Tether was looking to raise up to $20 billion, with Ark Invest and SoftBank among the companies interested in the round.
Tether added that it has applied for an investment fund license in El Salvador, where the company is headquartered. It also confirmed that it settled the dispute with bankrupt cryptocurrency lender Celsius in October using its own capital, not from the reserves securing the issued tokens.
The report comes as stablecoins experience rapid growth globally, with Tether at the center as the issuer of the largest digital dollar in the market. The circulating supply of USDT exceeded $174 billion at the end of September, increasing by $17 billion in the third quarter.
The crypto company is preparing to roll out a new stablecoin dubbed USAT later this year, focused on the US market and issued with crypto bank Anchorage Digital. The company is also considering a couple of investments to boost token distribution, such as Tether’s stake in video-sharing platform Rumble, where the tokens will be used to tip creators, Ardoino said in an interview with CoinDesk in Lugano, Switzerland.
Read More: Tether Considers New Investments to Bring USAT Stablecoin to 100 Million Americans at December Launch
