PANews reported on May 19 that according to Cointelegraph, according to the first quarter report of stablecoin issuer Tether, the size of its holdings of U.S. Treasury bonds has exceeded $120 billion, surpassing the latest disclosure of Germany's holdings of $111.4 billion in U.S. Treasury bonds. Based on this, Tether is currently the world's 19th largest holder of U.S. Treasury bonds. The company was the world's seventh largest buyer of U.S. Treasury bonds in 2024, surpassing sovereign countries such as Canada and Norway. Tether said in its first quarter report in 2025 that its traditional investment income from U.S. Treasury bonds and gold investment portfolios exceeded $1 billion, almost offsetting the losses caused by the volatility of the cryptocurrency market during the same period.