Tether, the world’s largest stablecoin issuer, announced that it issued an additional $17 billion worth of USDT in the third quarter of 2025. According to the El Salvador-based company’s latest audit report, its annual profit surpassed $10 billion.
While Tether didn’t disclose its third-quarter net income, it did report a $5.7 billion profit in the first half of the year. Based on this data, the company is estimated to have made at least $4.3 billion in Q3 profit.
“The third-quarter 2025 results demonstrate the continued confidence in Tether and the company’s strength despite challenging global macroeconomic conditions,” Tether CEO Paolo Ardoino said in a statement.
Because Tether isn’t a publicly traded company, it doesn’t publish standard quarterly earnings reports. Instead, it provides audit documents prepared by independent auditing firm BDO. Previously, the company typically detailed its earnings by quarter.
The company’s total exposure to U.S. Treasury bonds has reached $135 billion. It also has a portfolio of approximately $13 billion in precious metals and $10 billion in Bitcoin.
Tether, which continues to lead among US dollar-indexed stablecoins, also came to the fore with a JPMorgan report stating that its rival Circle’s USDC token is growing faster in terms of on-chain activity and market value.
*This is not investment advice.