Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B
The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the end of September.
Tether, the world's largest stablecoin issuer, reported a significant increase in its excess reserves, nearly doubling to $8 billion at the end of September, as its Q3 profit reached $1.5 billion. The company's US Treasury holdings are comparable to those of major foreign holders, with Bitcoin reserves valued at $8.37 billion, up from approximately $5.8 billion at the end of June.
Tether's assets totaled $191.5 billion against $183.5 billion in liabilities, leaving a reserve surplus of $7.95 billion. The stablecoin remains dominant, accounting for around 60% of the $297.3 billion stablecoin market.
Brief written by urgent.news from Cointelegraph's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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