Tether Makes Strides in the First Quarter of 2025, Expanding Its Role into Traditional Finance, Sustainable Infrastructure, and Now Sports / Entertainment as Well

Tether, the issuer of the world’s largest stablecoin USDT by market cap and overall transaction volume / adoption, has made several strides in the first quarter of 2025, continuing to build on its role in the increasingly competitive cryptocurrency market while also expanding its role into traditional finance, sustainable infrastructure, and now sports / entertainment as well.

With a reported operating profit exceeding $1 billion, near-record U.S. Treasury holdings, and a range of investments, Tether is emerging as a multifaceted financial industry participant.

During the past month, Tether has shared several details about its financial performance, disclosed the full acquisition of a majority stake in Adecoagro, shared the latest figures for its gold-backed token XAU₮, and disclosed its increasing stake in Juventus Football Club.

Operating Profit Exceeds $1 Billion as U.S. Treasury Holdings Grow Again

In its Q1 2025 attestation report, Tether announced an operating profit of over $1 billion, largely driven by yields from its massive U.S. Treasury portfolio.

The company’s exposure to U.S. Treasuries reached nearly $120 billion by Q1 2025, including $98.5 billion in direct Treasury bills and an additional $23 billion through repurchase agreements and other cash-equivalent assets.

This makes Tether one of the largest known holders of U.S. debt, surpassing many sovereign nations.

The attestation, conducted in El Salvador under regulatory supervision and verified by BDO, confirms total assets of $149.3 billion against liabilities of $143.7 billion, leaving $5.6 billion in excess reserves to back USD₮.

The stablecoin’s supply grew by $7 billion, reaching $143.7 billion, while the number of user wallets rose by 46 million, indicating a 13% increase in adoption.

"This quarter's report continues to highlight our commitment to transparency and trust," said Tether CEO Paolo Ardoino.

"With over 46 million user wallets and billions of dollars in liquidity distributed through our stablecoin, we play a crucial role in facilitating economic activity and providing financial opportunity around the world."

Tether Completes Acquisition of Adecoagro, Expanding into Latin American Agribusiness

After disclosing a 51% stake in April 2025, Tether finalized the acquisition of a 70% interest in Latin American agribusiness Adecoagro.

The move follows a tender offer for 49.596 million common shares in March 2025 at $12.41 each, aiming to increase Tether's existing holding.

The deal, completed on April 30, 2025, expands Tether's footprint into food production, renewable energy, and real-world infrastructure.

Adecoagro, operating in Brazil, Argentina, and Uruguay, specializes in sugar, ethanol, dairy, and renewable energy output.

It aligns with Tether's stated strategy to invest in sustainable initiatives and diversify beyond its core stablecoin offering.

"We are pleased to complete this investment in Adecoagro, which we believe will be a valuable addition to Tether's portfolio," said Ardoino.

"We look forward to working with the company's management team to scale Adecoagro's operations and explore opportunities in tokenized commodities and carbon credits."

The deal also involved a reshuffle of Adecoagro's board of directors, with five new executives joining.

This move signals a deeper integration of Tether's vision into the agribusiness giant as it seeks to expand its renewable energy and food production footprint.

"This investment is a testament to our commitment to economic freedom and resilience, especially in markets that are often underserved by traditional financial institutions," Ardoino added.

"We believe that blockchain technology and decentralized finance can play a significant role in driving positive change in the world."

Gold-Backed Token XAU₮ Shows Growth, Reaching 7.7 Tons of Gold Backing

Tether's gold-backed token, XAU₮, saw its holdings grow further in Q1 2025, reaching 246,523 tokens in circulation backed by over 7.7 tons of physical gold, valued at a $770 million market cap.

The first attestation for XAU₮ in 2025, released alongside the usual USD₮ report, showcases Tether's expanding portfolio of assets amid a shifting monetary landscape.

As investors increasingly seek hedges against inflation and currency volatility, the continued growth of XAU₮ showcases the emerging demand for stable, tangible-backed digital assets.

Tether's investment in gold serves as a balance to its massive U.S. Treasury holdings, navigating the volatility of the crypto market and reinforcing its conservative reserve management strategy