Q3 Surge: Tether Boosts Treasury Holdings to $102.5 Billion, Grows Bitcoin and Precious Metals Reserves

• Tether’s Q3 profits hit $2.5B as USDT demand grows, nearing $120B in circulation.
• Tether’s reserves rise with $102.5B in Treasuries, $4.8B in Bitcoin, and $5B in precious metals.
• Tether diversifies with $7.7B in sustainable energy and tech investments, boosting market stability.

Tether has reported record profits and asset growth for Q3 2024. The company doubled its net equity to $14.2 billion, up from $7 billion at year end 2023. In its latest report, Tether revealed that the US Treasury holdings have now reached $102.5 billion. 

This increase led to Treasuries becoming the most significant part of Tether’s reserves. Moreover, the company’s investments in Bitcoin and precious metals increased to $4.8 billion and $5 billion, respectively.

Global demand for Tether’s USDT drove circulation near a record high of $120 billion. This year alone, USDT circulation has grown by 30%, adding $27.8 billion to supply since January. Consequently, Tether’s market cap now approaches Circle’s USDC, which currently stands at $35 billion, according to CoinGecko data.

Tether Diversifies with New Investment Ventures

Beyond its core assets, Tether expanded its reach through Tether Investments Limited. This entity now manages $7.7 billion across several sectors, including sustainable energy, Bitcoin mining, and data infrastructure. 

These investments operate independently from Tether’s reserves, offering additional growth avenues. Significantly, they also reduce reliance on core stablecoin operations.

Ongoing Litigation Cases

Tether acknowledged three ongoing civil litigations. These include a class action related to Bitcoin’s 2017-2018 price drop, a dispute linked to the Celsius bankruptcy, and a case over USDT held in a wallet outside Tether’s control. Tether’s management has not allocated provisions for these cases, indicating confidence in its legal defenses.

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Q3 Profits Strengthen Tether’s Market Position

Tether achieved $2.5 billion in profits during Q3, bringing total 2024 profits to $7.7 billion. This financial success underscores Tether’s leadership in the stablecoin market. 

Its strong reserves and diversified investments reinforce this position and suggest continued growth. Consequently, Tether’s Q3 performance further solidifies its stability and adaptability in the industry.

With these results, Tether’s market strength appears resilient. Tether’s focus on liquidity and strategic investments continues to boost its financial foundation, ensuring robust future performance.