According to a report by Deep Tide TechFlow, Tether disclosed in its Q1 2025 audit report that its quarterly operating profit exceeded $1 billion, mainly from returns on its U.S. Treasury investment portfolio. Tether holds nearly $120 billion in U.S. Treasury bonds.
The report shows that Tether's total assets amount to $149.3 billion, liabilities are $143.7 billion, and excess reserves stand at $5.6 billion. The supply of USDT increased by $7 billion, with 46 million new user wallets added, and the adoption rate rose by 13%.
In addition, the market value of Tether's gold-backed token XAU₮ has reached $770 million, supported by over 7.7 tons of physical gold. Tether recently completed the acquisition of 70% of South American agricultural company Adecoagro and increased its stake in Juventus Football Club to over 10%.