Tether Holdings Ltd.報告了第1季度2025年的10億美元營業利潤，USDT優勢擴大

世界上最受歡迎的Stablecoin的發行人Tether Holdings Ltd.揭示了2025年第一季度的營業利潤超過10億美元

Tether, the issuer of the most popular stablecoin in the world, disclosed on Thursday that it generated an operating profit of over $1 billion in the first quarter of 2025. This announcement highlights the company’s significant role and earnings potential in the rapidly expanding digital assets ecosystem.

Tether是世界上最受歡迎的Stablecoin的發行人Tether，週四透露，它在2025年第一季度的營業利潤超過10億美元。此公告突出了該公司在快速擴展的數字資產生態系統中的重要作用和收益潛力。

The company, which is known for its flagship USDT token, also noted a reduction in surplus reserves to $5.6 billion by the end of March, down from $7.1 billion in the previous quarter.

該公司以其旗艦USDT代幣而聞名，他還指出，到3月底，盈餘儲量減少到56億美元，低於上一季度的71億美元。

Tether’s Statement: A Record Q1 2025

繫繩的說法：紀錄Q1 2025

In its Q1 2025 financial report, Tether reported having approximately $98.5 billion in direct U.S. Treasury bills and $23 billion in cash-equivalent assets through repurchase agreements and other similar instruments. This brings the total exposure to U.S. government securities and equivalents to nearly $120 billion.

Tether在其第1季度的2025年財務報告中報告說，通過回購協議和其他類似工具，有大約985億美元的美國財政賬單和230億美元的現金等價資產。這使美國政府證券的全部接觸量和等效物達到了近1,200億美元。

The company’s USDT token saw its supply rise by $7 billion during the first quarter, and it now stands at a market capitalization of about $149 billion.

該公司的USDT代幣在第一季度的供應量增加了70億美元，現在的市值約為149億美元。

Furthermore, Tether disclosed an addition of 46 million user wallets for USDT, showcasing the increasing adoption of the token by both institutional and retail traders.

此外，Tether透露了為USDT增加了4600萬用戶錢包，並展示了機構和零售商人對代幣採用的增加。

“Our excess reserves continue to provide us with the capital strength to support innovation across multiple sectors,” stated Tether, adding that these reserves have seen nearly $2 billion invested in projects across digital infrastructure, decentralized communications, artificial intelligence, and renewable energy.

Tether說：“我們的過剩儲備繼續為我們提供了支持多個部門創新的資本實力，”這些儲量在數字基礎設施，分散的通信，人工智能和可再生能源的項目上投入了近20億美元。

Stablecoin Industry Landscape

Stablecoin行業景觀

Early 2025 has seen the dollar-pegged stablecoin industry remain largely concentrated, with Circle’s USDC and Tether’s USDT combining for an 87% share of the global market.

2025年初，美元的穩定行業仍然集中在很大程度上，Circle的USDC和Tether的USDT共同佔全球市場的87％份額。

In anticipation of expanding institutional demand and the seamless integration of stablecoins into financial institutions, U.S. Treasury analysts project that by 2028, the collective market value of U.S. dollar-backed stablecoins could surge to over $2 trillion.

為了期待擴大機構需求以及將穩定幣的無縫整合到金融機構中，美國財政分析師預計，到2028年，美元支持的穩定股的集體市場價值可能會飆升至2萬億美元以上。

However, on the regulatory front in Europe, there are concerns regarding the prevailing dominance of tokens linked to the dollar. Recently, the Bank of Italy issued a cautionary statement that an over-dependence on stablecoins denominated in dollars might create systemic vulnerabilities, particularly if the underlying asset markets—specifically U.S. Treasurys—encounter significant shocks.

但是，在歐洲的監管方面，人們擔心與美元有關的代幣的主要統治地位。最近，意大利銀行發表了警示聲明，即以美元計價的過度依賴穩定的穩定性可能會造成系統性的脆弱性，尤其是如果基本的資產市場（特別是美國國債）會遭受重大衝擊。