Tether’s Reserves Now Surpass Those of Major Nations
tether has established itself as a major player in the stablecoin world, with its latest reserve report revealing assets worth over $162.57 billion. This surpasses liabilities of $157.11 billion, giving it a surplus of $5.46 billion.
This is unusual for stablecoins. Typically, they operate with just enough funds to cover redemptions. however, Tether operates more like a nation. It holds $127 billion in U.S.Treasuries, placing it among the top 18 holders of U.S. government debt globally.
the only private entity in this list, Tether sits between Saudi Arabia and several G20 countries. Its balance sheet echoes that of a central bank.While smaller than the Federal Reserve, both hold large portions of U.S. Treasuries and similar short-term instruments.
- $105.5 billion in U.S. Treasuries for Tether
- $4.77 trillion for the Federal Reserve
tether further diversifies by holding $8.9 billion in Bitcoin and $8.7 billion in gold, unlike traditional central banks. Despite a huge size difference, the concept works.
The federal Reserve remits excess earnings to the Treasury. Tether, however, keeps a $5.47 billion surplus, equivalent to 3.4% of total assets – a strong equity position.
In Q2 2025, Tether issued $7.357 billion in dividends, highlighting its profitability. Unlike Circle’s USDC, which aims for near one-to-one asset-liability ratio, Tether offers a sovereign-like cushion.
Tether shifts base to El Salvador, the only nation recognizing Bitcoin as legal tender. Maintaining U.S. compliance, it combines crypto-friendly regulation and global financial oversight.
For stablecoins, Tether’s model resembles a central bank’s monetary policy safety net, absorbing shocks and offering investment adaptability without jeopardizing redemption guarantees.
Tether’s unique blend of liquid assets, regulatory dualism, and surplus pose a potential template for future stablecoins or stand alone as a pioneer in the crypto sphere.
