Tried to cut through the FUD around USDT with a clear visualisation of Tether’s Q3 2025 balance sheet.
Total liabilities stand at $174.4B Total assets come in at $181.2B Surplus sits around $6.7B
Here’s what actually backs USDT: 77.2% is cash & cash equivalents 8% secured loans 7.1% precious metals (mainly gold) 5.4% Bitcoin 2.1% other investments
On top of these assets and surplus, the broader Tether Group holds ~$23B in retained earnings and generates ~$500M in monthly profits from U.S. Treasury yields.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Tried to cut through the FUD around USDT with a clear visualisation of Tether’s Q3 2025 balance sheet.
Total liabilities stand at $174.4B
Total assets come in at $181.2B
Surplus sits around $6.7B
Here’s what actually backs USDT:
77.2% is cash & cash equivalents
8% secured loans
7.1% precious metals (mainly gold)
5.4% Bitcoin
2.1% other investments
On top of these assets and surplus, the broader Tether Group holds ~$23B in retained earnings and generates ~$500M in monthly profits from U.S. Treasury yields.