Tether Excess Reserves Nearly Double to $8 Billion
The USDT issuer reported a $1.5 billion profit in the third quarter and increased its holdings of U.S. Treasury bills.
Markets Editor: Fabricio Marcilio 1 min read
Tether recorded an operating profit of $1.5 billion in the third quarter. The company's excess reserves jumped to $7.95 billion, nearly double the $4.1 billion reported in June.
The issuer's balance sheet shows $191.5 billion in assets against $183.5 billion in liabilities. The firm holds $132.4 billion in U.S. Treasury bills, a volume that exceeds the holdings of countries like the United Arab Emirates.
The organization's digital asset portfolio also showed significant growth. The value of Bitcoin reserves reached $8.37 billion at the end of September, up from the $5.8 billion recorded at the end of the second quarter.
The USDT stablecoin maintains its market leadership with about a 60% share of the sector. CEO Paolo Ardoino stated that the user base has surpassed 700 million, with a focus on emerging markets.
The increase in U.S. Treasury holdings reinforces the asset's liquidity against the dollar and expands the correlation between the crypto ecosystem and global monetary policy. This landscape shifts the perception of systemic risk regarding the stability of stablecoins in the financial market.
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