Tether's Q3 net profit was $2.5 billion, and it holds more than $100 billion in U.S. Treasury bonds

BlockBeats news, on November 1, according to the latest Q3 report released by Tether, Tether Q3 net profit was $2.5 billion (the full year has reached $7.7 billion), of which about $1.3 billion of profit came from gains on U.S. Treasury holdings, and another $1.1 billion was attributed to the unrealized appreciation of gold held in the company's reserves.

The published financial report shows that the company's direct and indirect exposure to Treasury bonds (including holdings of money market funds and reverse repurchase agreements) exceeds $102 billion. Among the reserve assets, it also holds $5 billion worth of gold and $4.8 billion in Bitcoin (BTC).

One of the highlights of this quarter is that Tether's stablecoin issuing company has reached a new high of nearly $120 billion in circulation, which means that the issuance of USDT has increased by 30% so far in 2024, with an additional issuance of about 27.8 billion. As of September 30, Tether's asset reserves were $125.5 billion and its liabilities were $119.4 billion. Excess reserves supporting Tether's stablecoin rose to more than $6 billion.

In addition, the investment arm Tether Investments had a net asset value of $7.7 billion, up from $6.2 billion in the previous quarter.