Tether釋放其第1季度的2025財務，披露了將近1.200億美元的美國國債

根據Tether的第1季度2025年財務報告，該公司的資產包括985億美元的美國國庫券，以及通過回購協議和其他現金等價資產的額外銷售額超過230億美元。

Tether, the company behind the world’s largest stablecoin by market capitalization, has released its financials for the first quarter of 2025, disclosing nearly $120 billion in exposure to US Treasurys and over $1 billion in operating profit.

Tether是全球最大的Stablecoin背後的公司，該公司在2025年的第一季度發布了其財務狀況，披露了將近1,200億美元的美國國債敞口，超過10億美元的營業利潤。

According to Tether’s Q1 2025 financial report, the company’s assets include $98.5 billion in direct US Treasury bills, along with over $23 billion in additional exposure through repurchase agreements and other cash-equivalent assets.

根據Tether的第1季度2025年財務報告，該公司的資產包括985億美元的美國國庫券，以及通過回購協議和其他現金等價資產的額外銷售額超過230億美元。

According to the announcement, Tether holds $5.6 billion in excess of reserves for its USDt (USDT) stablecoin, down from $7.1 billion in excess from the last quarter of 2024. The stablecoin has a market capitalization of $149 billion as of May 1.

根據公告，Tether持有56億美元的儲備金超過其USDT（USDT）Stablecoin，低於2024年最後一個季度的71億美元。

“Circulating supply of USDT grew by approximately $7 billion in Q1, with a 46 million increase in user wallets,” it said.

它說：“循環USDT的供應量增長了約70億美元的第一季度，用戶錢包增加了4600萬美元。”

The company's excess capital continues to fund strategic investments, with more than $2 billion allocated in renewable energy, artificial intelligence, peer-to-peer communications, and data infrastructure. 

該公司的超額資本繼續為戰略投資提供資金，分配了超過20億美元的可再生能源，人工智能，點對點通信和數據基礎設施。

The stablecoin market is broadly dominated by tokens pegged to the US dollar, with USDT and Circle’s USDC holding a combined 87% share. According to the US Treasury’s Q1 2025 report, the market cap for dollar-backed stablecoins is poised to reach $2 trillion by 2028.

Stablecoin市場廣泛地由代幣固定為美元，USDT和Circle的USDC持有總計87％的份額。根據美國財政部的第1季度2025年報告，美元支持的穩定股的市值預計到2028年將達到2萬億美元。

European Union officials have recently raised concerns about the risks of overreliance on dollar-pegged stablecoins. According to the Bank of Italy, disruptions in the stablecoins market or the underlying bonds could have “repercussions for other parts of the global financial system.”

歐洲聯盟官員最近對過度依賴美元固定的穩定股的風險提出了擔憂。根據意大利銀行的說法，穩定市場或基本債券的破壞可能“對全球金融體系的其他地區產生影響”。