Tether Reports Record Treasury Holdings and Plans US Expansion

Tether, the company behind the world’s largest stablecoin, recently announced major financial milestones and ambitious expansion plans.

According to their Q1 2025 attestation report, Tether now holds nearly $120 billion in US Treasuries and recorded quarterly operating profits exceeding $1 billion.

Tether and Its Growing Financial Strength

The latest attestation report, completed by BDO, shows Tether’s total assets amount to at least $149.27 billion, while liabilities stand at $143.68 billion. This creates an excess reserve of approximately $5.6 billion, demonstrating the company’s strong financial position.

Tether CEO Paolo Ardoino highlighted the company’s growing role in distributing dollar-denominated liquidity globally. “We remain focused on delivering trust, transparency, and value to hundreds of millions of users,” said Ardoino in the Q1 report.

The company also reported significant user growth, with approximately 46 million new USD₮ wallets created in Q1 2025—a 13% increase from the previous quarter.

US Expansion Plans

In a recent CNBC interview, Ardoino revealed plans to launch a US-based stablecoin as early as the end of 2025. This domestic stablecoin would differ from Tether’s international offering and align with upcoming US legislation.

Tether, currently headquartered in El Salvador, has been actively building relationships in Washington, DC. Ardoino has reportedly held private meetings with lawmakers and participated in Capitol Hill events, signaling the company’s intent to shape crypto regulation in the US.

These efforts come as the US political landscape has become more crypto-friendly. The GOP-backed GENIUS Act reportedly contains provisions that could benefit foreign stablecoin issuers like Tether if they commit to working with law enforcement.

Addressing Past Concerns

Tether’s moves toward greater transparency follow earlier regulatory issues. In 2021, the company settled with the New York attorney general for $18.5 million over allegations it misrepresented its reserves.

To rebuild trust, Tether now publishes regular attestation reports and has partnered with Wall Street firm Cantor Fitzgerald to manage its Treasury holdings. Ardoino emphasized that Tether’s collaboration with law enforcement exceeds that of many traditional financial institutions.

The stablecoin landscape continues to evolve rapidly, with even the Trump family announcing plans to launch their own dollar-backed stablecoin through World Liberty Financial.

As Tether pushes forward with its US plans, the company’s size and influence will likely keep it at the center of the ongoing conversation about cryptocurrency regulation and adoption.