Tether, the issuer of the largest stablecoin USDT, reported $1 billion in operating profit for the first quarter of 2025 and $5.6 billion in excess reserves, which is the lowest figure since mid-2024. The company's total assets include $98.5 billion in U.S. Treasury bonds and another $23 billion in other liquid instruments.
The circulation of USDT increased by $7 billion for the quarter, and the number of user wallets grew by 46 million. Despite the decrease in excess reserves, Tether continues to invest in AI, renewable energy, and P2P communications, with over $2 billion already allocated for these purposes.
