Tether Mints $2B USDT, Posts $1B Q1 Profit and Near-$120B Treasury Hoard

Tether Holdings Ltd. minted two separate tranches of $1 billion USDT within a 15-minute span on 29 April, adding $2 billion of the dollar-pegged stablecoin to the issuer’s treasury wallets. The transactions, recorded on public blockchains, typically precede distribution of new tokens to counterparties in response to customer demand.

On 1 May, the company released its first-quarter 2025 attestation, compiled under regulatory oversight in El Salvador. The report showed total assets of $149.27 billion against liabilities of $143.68 billion, leaving $5.6 billion in excess reserves. Exposure to U.S. Treasury bills climbed to almost $120 billion, while operating profit from traditional investments exceeded $1 billion for the quarter.

Circulating supply of USDT rose by $7 billion in the three-month period to 143.6 billion tokens, with 46 million new wallets added. The attestation also disclosed $7.6 billion in Bitcoin and $6.6 billion in gold holdings, underscoring Tether’s diversification beyond short-dated government debt as it expands the world’s largest stablecoin.

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