Tether earned $10 billion in 9 months of 2025: how the stablecoin became the most profitable crypto project

Blockwatcher9000 · 2025-11-22T01:14:10+00:00

Tether has emerged as the most profitable entity in cryptocurrency, generating $10 billion in profit in Q3 2025, primarily from its holdings in U.S. Treasury bonds. With a growing demand for its stablecoin, USDT, Tether is transforming into a financial ecosystem, highlighting the profitability of stable business models in crypto amidst market volatility.

Blockwatcher9000

2025-11-22 01:14:10

Abstract generation in progress

Unexpected leader of profits

If you were asked to name the most profitable company in cryptocurrency, you would probably mention some top exchange or DeFi protocol. But Tether's attestation data for Q3 2025 says otherwise: the highest revenue is generated by… the stablecoin issuer.

$10 billion in profit for the first three quarters of 2025 is more than most crypto funds yield in a year. How is this possible? The key lies in one thing: 135 billion dollars in U.S. Treasury bonds.

From stablecoin to financial empire

Tether is now officially the 17th largest holder of U.S. government debt — a position shared with central banks and sovereign funds. The income from these bonds is the main source of revenue for the company.

The certification figures show the scale:

174.4 billion USDT issued (growth of 17 billion for the quarter)
181.2 billion dollars in total reserves
6.8 billion dollars of excess reserves (safety cushion above 100%)

Fresh Reinterpretation of Monopoly

The demand for USDT continues to grow both on global trading platforms and in emerging markets. Over 500 million users worldwide already consider the stablecoin de facto a global digital dollar — from freelancers in Asia to traders in Africa, where inflation and currency control make local money unreliable.

And the expansion of Tether into AI and renewable energy is not just diversification. It is a signal: the company is evolving from a token issuer to a fully-fledged financial ecosystem.

Why is this important for the market

Tether has proven that the profitability of the crypto business does not depend on volatility and speculation. A transparent model, full liquidity, stable assets — and you get a stable income. In a world where macroeconomic uncertainty is only increasing, the demand for this stability will only grow.

Source: Tether Q3 2025 attestation report

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.