Tether释放其第1季度的2025财务，披露了将近1.200亿美元的美国国债

根据Tether的第1季度2025年财务报告，该公司的资产包括985亿美元的美国国库券，以及通过回购协议和其他现金等价资产的额外销售额超过230亿美元。

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背后的公司，该公司在2025年的第一季度发布了其财务状况，披露了将近1,200亿美元的美国国债敞口，超过10亿美元的营业利润。

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.

根据Tether的第1季度2025年财务报告，该公司的资产包括985亿美元的美国国库券，以及通过回购协议和其他现金等价资产的额外销售额超过230亿美元。

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.

根据公告，Tether持有56亿美元的储备金超过其USDT（USDT）Stablecoin，低于2024年最后一个季度的71亿美元。

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

它说：“循环USDT的供应量增长了约70亿美元的第一季度，用户钱包增加了4600万美元。”

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. 

该公司的超额资本继续为战略投资提供资金，分配了超过20亿美元的可再生能源，人工智能，点对点通信和数据基础设施。

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市场广泛地由代币固定为美元，USDT和Circle的USDC持有总计87％的份额。根据美国财政部的第1季度2025年报告，美元支持的稳定股的市值预计到2028年将达到2万亿美元。

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.”

欧洲联盟官员最近对过度依赖美元固定的稳定股的风险提出了担忧。根据意大利银行的说法，稳定市场或基本债券的破坏可能“对全球金融体系的其他地区产生影响”。