Tether Holdings Ltd.报告了第1季度2025年的10亿美元营业利润，USDT优势扩大

世界上最受欢迎的Stablecoin的发行人Tether Holdings Ltd.揭示了2025年第一季度的营业利润超过10亿美元

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是世界上最受欢迎的Stablecoin的发行人Tether，周四透露，它在2025年第一季度的营业利润超过10亿美元。此公告突出了该公司在快速扩展的数字资产生态系统中的重要作用和收益潜力。

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.

该公司以其旗舰USDT代币而闻名，他还指出，到3月底，盈余储量减少到56亿美元，低于上一季度的71亿美元。

Tether’s Statement: A Record Q1 2025

系绳的说法：纪录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年财务报告中报告说，通过回购协议和其他类似工具，有大约985亿美元的美国财政账单和230亿美元的现金等价资产。这使美国政府证券的全部接触量和等效物达到了近1,200亿美元。

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.

该公司的USDT代币在第一季度的供应量增加了70亿美元，现在的市值约为149亿美元。

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透露了为USDT增加了4600万用户钱包，并展示了机构和零售商人对代币采用的增加。

“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说：“我们的过剩储备继续为我们提供了支持多个部门创新的资本实力，”这些储量在数字基础设施，分散的通信，人工智能和可再生能源的项目上投入了近20亿美元。

Stablecoin Industry Landscape

Stablecoin行业景观

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，美元的稳定行业仍然集中在很大程度上，Circle的USDC和Tether的USDT共同占全球市场的87％份额。

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.

为了期望扩大机构需求以及将稳定币的无缝整合到金融机构中，美国财政分析师预计，到2028年，美元支持的稳定股的集体市场价值可能会激增至2万亿美元。

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，在欧洲的监管方面，人们担心与美元有关的代币的主要统治地位。最近，意大利银行发表了警示声明，即以美元计价的过度依赖稳定的稳定性可能会造成系统性的脆弱性，尤其是如果基本的资产市场（特别是美国国债）会遭受重大冲击。