Tether posted a $10 billion profit in 2025, down from $13 billion in 2024, as it increased holdings in highly liquid, low-risk assets, including a record $122 billion in US Treasury holdings. The company plans to diversify further by allocating 10-15% of its portfolio to gold and recently added significant gold reserves to back its stablecoins. Tether also entered the US market with a new regulated stablecoin, USAT, following regulatory clarity from the Genius Act signed last year.