Tether posts $10B in 2025 profits as US Treasury exposure and USDT supply climb
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Tether Scales Back Ambitious Fundraise After Investor Resistance
Tether moved away from plans to secure up to $20 billion in new capital after prospective backers balked at the headline valuation and deal size, citing reserve composition and auditability concerns. The issuer remains highly profitable — reporting roughly $10 billion in 2025 net income — and has shifted reserves toward U.S. Treasuries and large gold accumulations while launching an onshore product (USAT) to court U.S. institutional allocators.
Tether Accumulates Massive Gold Hoard, Buying Up to Two Tons Weekly and Storing It in Switzerland
Tether has been acquiring physical gold at a reported clip of up to two tonnes per week, adding roughly $1 billion a month to its bullion holdings and storing metal in a high-security Swiss facility. The company’s cumulative stash—about 140 tonnes valued near $24 billion—positions it among the largest non-sovereign holders and raises questions about price impact, tokenization risks, and market concentration.
U.S. long-term Treasury yields likely to climb later in 2026 as debt issuance complicates Fed balance-sheet plans
A Reuters poll of bond strategists finds long-term U.S. Treasury yields are expected to rise later in 2026 even as near-term yields edge down on priced-in Fed easing; heavy projected Treasury issuance is widely seen as making a large Fed balance-sheet reduction impractical. Investors are already reworking portfolios—shortening duration, adding inflation protection and tilting into equities—and policy moves such as expanded GSE MBS purchases may only temporarily ease mortgage costs while long-term yields remain the dominant driver.
