Tether出版了第1季度2025證明，儘管加密市場動盪，但仍表現出強大的財務業績

根據今天的新聞稿，這家穩定巨人在第一季度的運營利潤超過10億美元，而其美國財政部持有的歷史悠久的1200億美元

Tether, the stablecoin giant, has published its Q1 2025 attestation by global accounting firm BDO, showcasing strong financial performance despite crypto market turbulence during the quarter.

Stablecoin巨頭Tether已發布了全球會計公司BDO的第1季度2025證明，儘管該季度加密市場動盪，但仍表現出強大的財務業績。

The figures, disclosed on Wednesday through a press release, highlight Tether’s increasing dominance in the crypto ecosystem.

這些數字在周三通過新聞稿披露，突出了Tether在加密生態系統中越來越多的主導地位。

Tether Sees $1B Profit From Treasury Holdings Yield

繫繩看到$ 1B的財政部持有收益

According to BDO attest, operating profit came in at over $1 billion during the first quarter of 2025. This compares to an exceptional $6 billion profit reported for Q4 2024.

根據BDO的證明，在2025年第一季度，營業利潤的收入超過10億美元。相比之下，第四季度2024年第四季度的60億美元利潤。

However, the prior quarter’s total included substantial unrealized gains from Bitcoin and gold, inflating the headline figure. In contrast, the more modest Q1 result arose mainly from U.S. Treasury holdings yield, with gold performance nearly offsetting crypto market volatility.

但是，上一季度的總數包括比特幣和黃金的實質性未實現的收益，使標題數字充氣。相比之下，較小的Q1結果主要來自美國國庫券的收益，金色的性能幾乎抵消了加密市場的波動。

Meanwhile, Tether’s exposure to U.S. Treasuries continued to grow quarter-over-quarter, climbing from $113 billion in Q4 2024 to nearly $120 billion in Q1 2025. This places Tether among the world’s top holders of U.S. government debt.

同時，特特（Tether）接觸美國國債（US）的紀念物繼續在四分之一季度增長，從2024年第四季度的1,130億美元攀升至2025年第1季度的近1200億美元。這將是世界政府債務的全球最高持有人。

The company is consistently pushing to bolster liquidity and minimize risk through investments in short-term government debt to maintain the stability of its flagship token, USD₮.

該公司一直在推動增強流動性並通過短期政府債務的投資來降低風險，以保持其旗艦令牌的穩定性，美元。

Slower Figures But Robust Operational Condition

數字較慢，但操作條件強大

Total assets as of March 31, 2025, stood at roughly $149.3 billion, and liabilities amounted to $143.7 billion, leaving a surplus of nearly $5.6 billion in excess reserves.

截至2025年3月31日的總資產約為1,493億美元，負債為1437億美元，剩餘的盈餘近56億美元。

This figure, though lower than the $7 billion buffer reported at the end of Q4 2024, still showcases strong risk management. The slight dip may be attributable to asset reallocation and changing market conditions but does not suggest a deterioration in financial health.

該數字雖然低於第4季度2024年底報導的70億美元緩衝區，但仍展示了強大的風險管理。輕微的下降可能歸因於資產重新分配和市場狀況的變化，但並不暗示金融健康狀況惡化。

In addition, USD₮ issuance increased by about $7 billion during the quarter, a slower pace compared to the $23 billion issued in Q4 2024. However, the number of active user wallets grew by 46 million, a 13% quarter-over-quarter rise, indicating ongoing adoption and confidence in Tether’s stability.

此外，本季度的發行量增加了約70億美元，速度較慢，而第二季度為4224年第​​四季度發行的230億美元。但是，活躍用戶錢包的數量增加了4600萬，季度的增長量為13％，表明持續的採用和對Tethethethe穩定性的持續收養和信心。

Tether’s total liabilities continue to be nearly entirely tied to digital tokens issued, confirming the company’s commitment to maintaining a fully reserved model.

Tether的總負債幾乎完全與發行的數字代幣完全息息相關，這證實了該公司對維護完全保留模型的承諾。

Specifically, the firm’s reserves have consistently been backed by cash and cash equivalents at a high ratio, with the remainder spread across gold, Bitcoin, and proprietary investments not included in token backing.

具體而言，該公司的儲量一直以現金和現金當量為高比例的支持，其餘部分分佈在金牌，比特幣和專有投資中。

Furthermore, the company has now allocated more than $2 billion to emerging sectors like renewable energy, artificial intelligence, and data infrastructure.

此外，該公司現在已為可再生能源，人工智能和數據基礎設施等新興領域分配了超過20億美元。

Notably, the Q1 2025 report was also subject to review and procedures performed in accordance with Generally Accepted Auditing Standards in the United States of America and applied in accordance with International Financial Reporting Standards, as well as the legal and regulatory framework in El Salvador.

值得注意的是，第一季度2025年報告還受到審查和根據美國公認的審計標準執行的審查和程序，並根據國際財務報告標準以及El Salvador的法律和監管框架進行了申請。