Tether records lower annual profit after boosting asset reserves

Stablecoin giant Tether on Friday posted a $10 billion profit for 2025, down from the previous year as the company quickly stocked up on assets.

The private firm, based out of the Salvadoran capital of San Salvador, posted a $13 billion profit for 2024.

Tether did not explain why its profits for last year were down but did say it had made a “shift toward highly liquid, low-risk assets” and that total reserves hit a high of $193 billion.

“USDT expanded because global demand for dollars is increasingly moving outside traditional banking rails, particularly in regions where financial systems are slow, fragmented, or inaccessible,” Tether CEO Paolo Ardoino said in a statement.

DL News did not immediately receive a response from Tether.

Buying assets

Tether in 2025 kept stockpiling assets: The company said it had more exposure to US treasuries than ever before with direct US Treasury holdings exceeded $122 billion.

Tether’s main product, the USDT token, is backed by reserves so it can function as a digital dollar.

And it’s continuing into 2026: Ardoino this week said the company would allocate 10-15% of its portfolio to gold in a Reuters interview.

The firm said it added around 27 metric tons of gold to its fund exposure in the last quarter of 2025.

Tether holds gold not only to back USDT but also XAUT, a token designed to give holders ownership of gold.

A new stablecoin

Tether this week entered the US market, debuting a USAT, a regulated digital token designed to operate under the Genius Act.

For years, the crypto giant was locked out of the US market but now regulations are clear cut for stablecoins — the most-traded digital assets — after US President Donald Trump last year signed the Genius Act to regulate them.

Major banks and companies are now releasing their own versions of the tokens, which are backed by dollar reserves so payments can be made quickly and efficiently via blockchain technology.

Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at mdisalvo@dlnews.com