Tether CEO Paolo Ardoino said the “structure behind” the company’s growth mattered more than its “scale” in 2025, as US Treasury holdings surpassed $122 billionTether CEO Paolo Ardoino said the “structure behind” the company’s growth mattered more than its “scale” in 2025, as US Treasury holdings surpassed $122 billion
Tether US treasury holdings reach record highs, profits fall 23% year-on-year
Tether CEO Paolo Ardoino believes the company's structural foundation outweighs mere scale in 2025, despite US Treasury holdings surpassing $122 billion. According to a BDO-prepared report released Friday, the world's largest stablecoin issuer experienced net profits exceeding $10 billion—a roughly 23% decline from 2024's $13 billion figure. Nevertheless, Tether's direct Treasury holdings reached unprecedented levels above $122 billion. This shift reflects what the company characterizes as a strategic pivot: prioritizing highly liquid, low-risk assets to reinforce its operational backbone rather than simply expanding its market presence.
Tether CEO Paolo Ardoino said the “structure behind” the company’s growth mattered more than its “scale” in 2025, as US Treasury holdings surpassed $122 billion.
Tether, the issuer of USDt, the world’s largest stablecoin, reported around $3 billion less in net profits in 2025, while its US Treasury holdings reached new all-time highs.
In a report published on Friday and prepared by accounting firm BDO, Tether said it posted net profits of more than $10 billion in 2025, which is down around 23% from the $13 billion it reported in 2024.
Meanwhile, Tether said its direct US Treasury holdings climbed above $122 billion in 2025, marking “the highest level ever.” The company said this shows the “ongoing shift toward highly liquid, low-risk assets.”
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