Tether出版了第1季度2025证明，尽管加密市场动荡，但仍表现出强大的财务业绩

根据今天的新闻稿，这家稳定巨人在第一季度的运营利润超过10亿美元，而其美国财政部持有的历史悠久的1200亿美元

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巨头Tether已发布了全球会计公司BDO的第1季度2025证明，尽管该季度加密市场动荡，但仍表现出强大的财务业绩。

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

这些数字在周三通过新闻稿披露，突出了Tether在加密生态系统中越来越多的主导地位。

Tether Sees $1B Profit From Treasury Holdings Yield

系绳看到$ 1B的财政部持有收益

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.

根据BDO的证明，在2025年第一季度，营业利润的收入超过10亿美元。相比之下，第四季度2024年第四季度的60亿美元利润。

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，上一季度的总数包括比特币和黄金的实质性未实现的收益，使标题数字充气。相比之下，较小的Q1结果主要来自美国国库券的收益，金色的性能几乎抵消了加密市场的波动。

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.

同时，特特（Tether）接触美国国债（US）的纪念物继续在四分之一季度增长，从2024年第四季度的1,130亿美元攀升至2025年第1季度的近1200亿美元。这将是世界政府债务的全球最高持有人。

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₮.

该公司一直在推动增强流动性并通过短期政府债务的投资来降低风险，以保持其旗舰令牌的稳定性，美元。

Slower Figures But Robust Operational Condition

数字较慢，但操作条件强大

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日的总资产约为1,493亿美元，负债为1437亿美元，剩余的盈余近56亿美元。

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.

该数字虽然低于第4季度2024年底报道的70亿美元缓冲区，但仍展示了强大的风险管理。轻微的下降可能归因于资产重新分配和市场状况的变化，但并不暗示金融健康状况恶化。

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，本季度的发行量增加了约70亿美元，速度较慢，而第二季度为4224年第​​四季度发行的230亿美元。但是，活跃用户钱包的数量增加了4600万，季度的增长量为13％，表明持续的采用和对Tethethethe稳定性的持续收养和信心。

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的总负债几乎完全与发行的数字代币完全息息相关，这证实了该公司对维护完全保留模型的承诺。

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.

具体而言，该公司的储量一直以现金和现金当量为高比例的支持，其余部分分布在金牌，比特币和专有投资中。

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

此外，该公司现在已为可再生能源，人工智能和数据基础设施等新兴领域分配了超过20亿美元。

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年报告还受到审查和根据美国公认的审计标准执行的审查和程序，并根据国际财务报告标准以及El Salvador的法律和监管框架进行了申请。