Tether Limited has posted a remarkable third-quarter profit of $2.5 billion, pushing its total profits this year to an unprecedented $7.7 billion. This performance underscores Tether’s growing financial clout and its position as a leading player in the cryptocurrency market
One of the major drivers of this impressive quarter has been Tether’s $5 billion in gold holdings, contributing $1.1 billion in unrealized gains. According to a recent attestation by accounting firm BDO, Tether has also expanded its excess reserve buffer to over $6 billion—a 15% increase over the past nine months. As a result, the company’s equity stands at a record high of $14.2 billion, while its consolidated assets have surged to $134.4 billion.
CEO Paolo Ardoino emphasized Tether’s commitment to financial stability, saying, “By expanding our reserve buffer and strategically focusing on investment, Tether has set a new standard in financial resilience.”
Beyond its reserves, Tether now holds over $105 billion in cash and equivalents, of which a historic $102.5 billion is in U.S. Treasury bills. This significant amount places Tether among the top 18 global holders of U.S. Treasury securities, surpassing countries like Germany, Australia, and the United Arab Emirates. Compared to its last audit, Tether has increased its holdings by nearly $5 billion.
The company has also augmented its Bitcoin reserves to 7,100 BTC, valued at nearly $4.8 billion. Meanwhile, the circulating supply of Tether’s USDT stablecoin has reached close to $120 billion, a 30% increase so far this year. This rise reflects a $27.8 billion issuance, setting a new milestone for USDT supply.
Ardoino remarked, “Reaching $120 billion in supply while holding $102.5 billion in U.S. Treasuries demonstrates our unmatched financial strength.”
In addition to bolstering reserves, Tether has expanded its proprietary investment portfolio to $7.7 billion, investing in renewable energy, Bitcoin mining, artificial intelligence, telecommunications, and education. This diversified investment strategy signals Tether’s ambitions to extend its influence beyond cryptocurrency, positioning itself as a significant player in sectors that shape the future economy.
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