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Tether the world’s largest stablecoin issuer, he said On Friday, its net profits exceeded $10 billion for this year, as its flagship token grew to a market capitalization of $174 billion by the third quarter of 2025.
According to the firm last attestation signed by accounting firm BDO Italia, the company ended the quarter with $6.8 billion in excess reserves, maintaining a buffer over its $174.4 billion in USDT-related liabilities.
“With its all-time high exposure to US Treasuries, which now amounts to $135 billion, it places our company as the 17th largest holder of US debt,” CEO Paolo Ardoino said in a statement.
The company also holds $12.9 billion in gold and $9.9 billion in bitcoin for the attestation.
Tether also announced the start of a share buyback program, with “the prospective participation of institutional investors interested in a private placement.” Bloomberg previously reported that Tether was trying to grow up to $20 billion, with Ark Invest, SoftBank being 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 headquartered. It is also confirmed that litigation settled with the crypto credit in bankruptcy Celsius in October with its own capital, not from reserves that support the issued tokens.
The report comes as stablecoins are growing rapidly around the world, with Tether at the center as the issuer of the largest digital dollar in the market. The circulating supply of USDT crossed $174 billion at the end of September, expanding from $17 billion in the third quarter.
The crypto company plans to launch a new stablecoin called USAT later this year, focused on the US market and issued with the cryptographic bank Anchorage Digital. The company also sees two to three investments to push the distribution of the token, similar to Tether’s participation in the video sharing platform Rumble where the tokens will be used for tipping creators, Ardoino said in an interview with CoinDesk in Lugano, Switzerland.
Read more: Tether Eyes Fresh Investments to Push USAT Stablecoin to 100 Million Americans at December Launch
