Tie The issuer of the world’s largest stablecoin said on Friday that its net profits surpassed $10 billion for this year as its flagship token rose to a market capitalization of $174 billion in the third quarter of 2025.
According to the company’s latest certificate signed by accounting firm BDO Italia, the company ended the quarter with excess reserves of $6.8 billion, maintaining a cushion on its $174.4 billion in USDT-linked liabilities.
“With its historically high exposure to US Treasuries, now standing at $135 billion, it positions our company as the 17th largest holder of US debt,” CEO Paolo Ardoino said in a statement.
The company also owned $12.9 billion in gold and $9.9 billion in bitcoin. according to the certification.
Tether also announced the start of a share buyback program, with “potential participation from institutional investors interested in a private placement.” Bloomberg previously reported that Tether was looking to raise up to $20 billion, and that Ark Invest and SoftBank were 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 based. It also confirmed that it settled a dispute with bankrupt cryptocurrency lender Celsius using its own capital, not reserves backing the issued tokens.
The report comes at a time when stablecoins are growing rapidly globally, with Tether at the center as the issuer of the largest digital dollar on the market. The circulating supply of USDT surpassed $174 billion at the end of September, expanding by $17 billion in the third quarter.
The cryptocurrency company is preparing to launch a new stablecoin called USAT later this year, focused on the US market and issued with cryptocurrency bank Anchorage Digital. The company also envisions two or three investments to boost token distribution, similar to Tether’s involvement in video-sharing platform Rumble, where tokens will be used to tip creators, Ardoino said in an interview with CoinDesk in Lugano, Switzerland.
Read More: Tether Seeks New Investments to Power USAT Stablecoin to 100 Million Americans in December Launch
