Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B
Summary
Tether reported $1.5 billion in third-quarter operating profit and a $7.95 billion reserve surplus, nearly double its June figure, in an attestation prepared by BDO. At September’s end, it held $191.5 billion in assets, including $132.4 billion in US Treasury exposure, against $183.5 billion in liabilities. Its nine-month operating profit reached $4.5 billion, while its Bitcoin reserves rose to $8.37 billion. USDT accounts for about 60% of the $297.3 billion stablecoin market, and CEO Paolo Ardoino said its user base exceeded 700 million. Tether has faced scrutiny over reserve transparency; it said it completed its first full independent financial statement audit in August, but the statements were not published.
