Tether, the world’s largest stubcoin, released its certification in the first quarter of 2025, claiming it has more than $120 billion exposure to U.S. Treasury securities and earning more than $1 billion in quarterly profits.
But it also suggests that the tether holds little cash.
Furthermore, the proof shows that Tether’s self-descriptive “equity” (assets minus liabilities) in the report dropped almost $1.5 billion over the quarter, exceeding gross profit.
This was also the first quarter after Tether moved to El Salvador.
spare
Tether’s reserves are controlled by US Treasury securities, with direct exposure of nearly $100 billion, and an additional $20 billion indirect exposure in Money Market Funds and Reverse Tucharase agreements.
Beyond these assets, Tether still maintains a variety of different exposures, including over $6.5 billion in precious metals, $7.6 billion in Bitcoin (BTC), and $4.4 billion in “other investments.”
I also have a tether, which is harsh A $8.8 billion “secured loan.”
read more: Why do Tether and Canter Fitzgerald lend close to the same amount?
Tether had previously committed to “reducing secured loans on Tether reserves to zero” in late 2022.
In the end, Tether declared victory by classifying it as “excessive reserves” despite securing loans. This classification relied on tethers with more “excessive reserves” than secured loans.
Since then, the company’s secured loans have continued to grow, and now surpasses Tether International’s so-called “equity.”
But perhaps the most impressive detail of the reserve is how little cash and bank deposits Tethers need to maintain. Proof It lists only $64 million in that category.It is only 0.04% of total assets, suggesting that there are other ways to quickly access liquid cash to redemption management.
growth
Tether has continued to grow over the past year, increasing its total assets from around $82 billion to about $150 billion.
Its debt is primarily made up of good tokens, growing from around $79 billion to $143 billion.
Tether’s fairness has grown from almost $2.4 billion to $5.5 billionbut it has fallen from its $7 billion peak.
investment
The benefits of Tether’s massive reporting have allowed the funds to rapidly diversify investments around the world.
These investments are very diverse, including data centers, football clubs, agricultural conglomerates, satellite companies, and payment companies.
read more: Tether: 10 years, 100,000,000,000 USDT, no audits yet
One of the most important of these is the acquisition of Latin American agricultural conglomerate Adecoagro.
Tether speculates that he will probably use his own hadron platform and use this as part of the tokenization push.
Other investments and their partnerships have been drawn into the lawsuit for a partnership with SWAN, which is now unrepeated.
read more: Bitcoin mining company Proton says the swan lawsuit is “fatally flawed”
Additionally, Tether is investing in Rumble, a video streaming website in partnership with Donald Trump Jr.
The company also continues to work closely with the biggest custodian, Cantor Fitzgerald, even as the company’s former head, Howard Lutnick, begins his role as Donald Trump’s Secretary of Commerce.
Overall, Tether continues to grow, invest and become an even more important global financial company.
