Tether Reports Over $1 Billion Operational Profit in Q1, Driven by Traditional Investments

For the period from January to March, the company Tether reported an operational profit of $1 billion derived from traditional investments. This figure is noted in the commentary accompanying the issuer’s certification report for the USDT stablecoin.

The results were bolstered by an increase in the value of US Treasury bonds, while a positive re-evaluation of gold nearly offset the volatility of bitcoin, as mentioned in the document.

The supply of USDT rose by approximately $7 billion, reaching $143.68 billion, with user wallets expanding by 46 million.

Risk exposure related to US Treasuries approached $120 billion. This number accounts for indirect ownership of securities through money market funds and reverse repo agreements. Direct investments in US Treasury securities reached $98.5 billion.

Excess stablecoin reserves totaled $5.59 billion, reflecting a decline compared to the end-of-2024 estimate of $7.09 billion, influenced by dividend payments amounting to $2.35 billion.

Tether highlighted its investments in «long-term initiatives» in renewable energy, artificial intelligence, peer-to-peer communications, and data transmission infrastructure, totaling «over $2 billion.»

The report was audited by the independent firm BDO, which confirmed the accuracy of USDT’s financial metrics and reserves.

The January-March period marked Tether’s first financial quarter «under the oversight of the regulator in El Salvador,» where the company has its new headquarters.

Previously, the company confirmed that it supports the XAUT stablecoin with gold reserves as of the end of March.

In April, Tether became a co-founder of Twenty One Capital, contributing 23,950 BTC to the organization’s capital. The firm is positioned as «the best tool for investors looking to find capital-efficient risks in bitcoin.»