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. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant