Tether, the issuer of the USDT stablecoin, has released its financial report for the first quarter of 2025.
The report reveals nearly $120 billion of exposure to the US Treasury and over $1 billion of operating profit.
As detailed in Tether's first quarter 2025 financial report, the company's assets include $98.5 billion in direct US Treasury bills, plus more than $23 billion in additional exposure through repurchase agreements and cash equivalent assets.
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Tether holds $5.6 billion in reserves beyond what is required for its USDT stablecoin, down from $7.1 billion in the previous quarter of 2024.