This Stablecoin Giant Just Posted Profits That Are On Par With The Banking Titans

Tether Holdings, the stablecoin giant, has revealed that its profits for the first three quarters of 2025 have exceeded $10 billion. This figure suggests that the company's profit margin has surpassed that of some of the world's largest banks.

The massive revenue primarily stems from the $135 billion worth of U.S. Treasury bonds held by Tether, which back every USDT token in circulation. As U.S. Treasury yields rise, Tether's profits also increase accordingly.

Notably, Tether's holdings of U.S. Treasuries make it the largest non-government holder, surpassing even South Korea, and positioning it as the 17th-largest holder of U.S. debt globally.

Tether CEO Paolo Ardoino stated, “The profits are derived from the trust placed in USDT and the growing demand for stablecoins.”

Tether's scale can be compared to the profits of major U.S. banks during the same period. For instance, Goldman Sachs and Morgan Stanley have each reported around $12 billion in profits so far this year, making Tether's profitability comparable to some of the top players in the global financial sector.

In addition, Tether maintains substantial reserves, totaling $181.2 billion. Apart from the $135 billion in Treasuries, the company also holds over $6.8 billion in surplus reserves.

In the third quarter alone, Tether issued over $17 billion worth of new USDT, bringing the total supply to over $174 billion.

These figures clearly demonstrate the rapid pace of Tether’s growth while maintaining a robust security system.

Tether's operational scale indicates that it is no longer just a small niche in the financial sector.

This has led people to realize that a business fully based on digital currency is now achieving profit levels that surpass even those of long-established financial institutions. This comparison prompts thoughts about the future direction of the financial world.

With such profits and reserves, Tether is likely to attract more attention from regulators and traditional financial enterprises. Its growing influence in the stablecoin market will bring with it discussions about regulation, risk management, and its role in the broader financial system. Over the coming months, these issues are likely to become clearer, particularly in the stablecoin sector.