Tether Set to Surpass Saudi Aramco in Global Profits

Key Notes

• Tether’s user base exceeds 400 million, growing 35 million wallets per quarter.
• Holding $127B in US Treasury, Tether is among the top 20 holders globally.
• Tether bought 8888.88 BTC for a massive $1 billion earlier today.

Tether, the issuer of the world’s largest stablecoin USDT, is potentially on track to surpass Saudi Aramco in profits, close to becoming the most profitable company in history.

In his recent note, Bitwise Chief Investment Officer Matt Hougan said that Tether’s explosive growth trajectory is likely, considering the enormous global currency and money markets it can access.

This hot take comes after Hougan highlighted earlier this month that on-chain borrowing and tokenization are set to shake global capital markets over the next several years.

With over 400 million users worldwide and wallets increasing by 35 million each quarter, Tether has established a firm presence in developing countries while also strengthening the US dollar, said Hougan.

Financial Strength and Diversification

As of Q2 2025, Tether holds $127 billion in US Treasury bonds, ranking among the top 20 holders globally and comparable to sovereign nations like the UAE and Germany.

Hougan noted that if emerging markets increasingly adopt USDT, Tether could manage trillions in assets, potentially surpassing Saudi Aramco’s $120 billion profit record for 2024.

“There’s a chance that many emerging market countries will convert from primarily using their own currencies to using USDT. If that happens, Tether could end up managing trillions of dollars and capturing all of the interest,” said Hougan.

With fewer than 200 employees, Tether is projected to earn around $13 billion this year and holds over 100,000 BTC valued at $11.4 billion.

Tether is not a new cryptocurrency company. Beyond stablecoins, the company has invested in AI, telecommunications, data centers, energy infrastructure, and Bitcoin mining.

Expansion and Market Impact

As per CNBC, Tether is also evaluating a major fundraising round, potentially raising $15 billion to $20 billion for a 3% stake, which could value the company at $500 billion. However, the discussions are still in early stages, and final details could change.

CEO Paolo Ardoino said that the funds would accelerate Tether’s strategy across multiple sectors, including artificial intelligence, commodity trading, energy, and communications.

If the deal materializes, the company would rival some of the world’s biggest private firms, such as SpaceX and OpenAI. Also, with President Donald Trump’s pro-crypto stance, Tether has been making a push back into the US market.

$1B BTC Purchase

According to the latest market data, Tether spent a massive $1 billion to buy 8888.889 BTC, marking the last day of the third quarter.

Meanwhile, BTC trades at $113,000 and hasn’t moved much in the past week. The buying pressure has dropped to its lowest point in a year, as investors wonder where the leading digital asset is headed.

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