Tether made a net profit of 2.5 billion US dollars in Q3 with gold and US bonds! Total assets and equity reached a historical high.

Tether, the largest issuer of USDT, the world's largest stablecoin, announced today its Q3 2024 reserve report, audited by BDO, one of the top five global independent public accounting firms. The report shows a net profit of $2.5 billion for the quarter and a cumulative profit of $7.7 billion for the first nine months of the year, with total assets reaching $134.4 billion, setting new historical highs. Tether attributes its strong performance to its gold holdings, which generated approximately $1.1 billion in unrealized profits for the quarter, with the remaining $1.3 billion coming from U.S. Treasury yields. One of the highlights of the quarter is the growth of USDT's circulation, which has increased by $27.8 billion to nearly $120 billion year-to-date, a growth rate of 30%, almost equivalent to the total market capitalization of its competitor USDC. As of the end of the third quarter, Tether's reserve assets stood at $125.5 billion, with liabilities of $119.4 billion, resulting in an excess reserve of over $6 billion and a non-annualized growth rate of 15% over the past nine months. Tether currently holds over $105 billion in cash and cash equivalents, including a significant amount of U.S. Treasury bonds, making it the 18th largest holder of U.S. Treasury bonds globally, ranking higher than Germany, Australia, and the United Arab Emirates. Tether has also increased its holdings of BTC and gold in the third quarter, with holdings valued at $4.8 billion and $5 billion, respectively. Tether Investments, the company's proprietary investment department, has reached a net asset value of $7.7 billion, surpassing the previous quarter's $6.2 billion. The department's investment strategies span key industries such as renewable energy, BTC mining, AI, telecommunications, and education, and it holds 7,100 BTC. Paolo Ardoino, CEO of Tether, stated that the performance of Tether in the third quarter reflects its unwavering commitment to transparency, liquidity, and responsible risk management. With a market capitalization of $120 billion and holdings of $102.5 billion in U.S. Treasury bonds, the company demonstrates unparalleled financial strength. By increasing our reserve buffer to over $6 billion and maintaining our strategic investment follow, Tether once again sets the standard for stability in the financial sector. Related reports: Will USDT face U.S. sanctions? The Wall Street Journal: Prosecutors are investigating Tether... Official refutation: Another smear campaign. Tether proposes to tokenize boron salt mines in Turkey and establish a cryptocurrency exchange in Istanbul. Tether wants to be a bank! It plans to provide billions of dollars in credit to commodity traders. Will it support USDT? . This article was originally published on BlockTempo, the most influential blockchain news media in the dynamic area.