Tether Releases Q1 2025 Financial Attestation Under El Salvador Oversight

Tether has published its financial attestation for the first quarter of 2025, marking the company’s first report under regulatory supervision in El Salvador.

Tether Approaching $120B in U.S. Treasuries, Confirms Quarterly Operating Profit Over $1B, and Strengthens Global USD₮ Demand in Q1 2025
Read more: https://t.co/U43RJ6bWWC
— Tether (@Tether_to) May 1, 2025

The attestation, completed by international accounting firm BDO, provides a breakdown of Tether’s reserves, operations, and balance sheet figures as of March 31st, 2025.

According to the report, Tether’s total issued USD₮ stood at $143.6 billion, backed by $149.3 billion in total assets.

Tether just released the attestation for Q1 2025, the first quarter under the regulatory supervision in El Salvador.

Highlights as of 31st March 2025:
* 143.6B total issued USDt.
* 149.3B total assets/reserves.
* 5.6B excess reserves, on top of the 100% reserves in liquid assets… https://t.co/Dqay27kus7 pic.twitter.com/RiOVi31qxs
— Paolo Ardoino 🤖 (@paoloardoino) May 1, 2025

The company reported $5.6 billion in excess reserves beyond the assets needed to cover issued tokens.

Its holdings include nearly $120 billion in U.S. Treasuries, through both direct and indirect exposures such as money market funds and reverse repurchase agreements.

Operating profits for the quarter exceeded $1 billion, largely attributed to returns from its U.S. Treasury portfolio.

The company noted that gains from gold holdings helped balance the effects of Bitcoin and cryptocurrency market fluctuations during the period.

Tether’s circulating USD₮ supply grew by approximately $7 billion in Q1, alongside a reported 13% rise in active wallets, adding around 46 million new users.

Total global users were reported at over 415 million, with particular growth highlighted in emerging and developing economies.

In addition to its stablecoin operations, Tether continues to invest in sectors including renewable energy, artificial intelligence, peer-to-peer communications, and data infrastructure.

These investments, amounting to over $2 billion, are made through its investment division and are not part of the reserves backing USD₮.

The first quarter of 2025 also marked Tether’s initial period operating under El Salvador’s Digital Assets framework, where it holds a license as a stablecoin issuer.

Looking ahead, Tether has announced plans to launch a Wallet Development Kit (WDK) aimed at enabling non-custodial wallets, as well as to advance its Tether AI initiative, a peer-to-peer platform designed to operate across a range of devices.

The company has stated goals to expand its presence to nearly 3 billion people over the next five years through its global network of access points.