Tether Reports Q1 Profit Above $1 Billion, Down From 2024 Amid Bitcoin Yield Decline
The post Tether Reports Q1 Profit Above $1 Billion, Down From 2024 Amid Bitcoin Yield Decline appeared on BitcoinEthereumNews.com.
In brief Tether notched a profit in excess of $1 billion in Q1 2025, the company said Thursday. That figure marks a notable year-over-year decline from Tether’s Q1 2024 profits of $4.52 billion. The difference is likely accounted for by Bitcoin’s monster rally in Q1 last year. Tether holds the cryptocurrency in reserve. Stablecoin giant Tether reported a profit in excess of $1 billion in the first quarter of 2025—a figure that, while substantial, marks a significant downturn from reported profits from Q1 2024. In an attestation released Thursday, the company said it made just north of a billion dollars in profit in the first quarter this year, largely thanks to yields generated by the massive quantity of U.S. Treasuries it holds in reserve. A specific profit figure was not provided in the press release or attached attestation. Decrypt asked a Tether representative for the exact figure, but did not immediately receive a response. Exactly a year ago, Tether reported a record profit of $4.52 billion for Q1 2024. At the time, the company said about a billion dollars of those gains came from its U.S. Treasury portfolio, while the majority stemmed from market-to-market gains in the company’s Bitcoin and gold positions. 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 Stablecoins are crypto tokens that are often pegged to the value of fiat currencies like the U.S. dollar, which allow crypto users to enter and exit positions without accessing those currencies directly. Tether’s dollar-pegged USDT token is by far the most used stablecoin in the…
Filed under: News - @ May 1, 2025 9:20 pm