Tether Reports $1.5 Billion Quarterly Profit in Q3

Tether, the issuer of the USDT stablecoin, announced that it earned a net operating profit of $1.5 billion in the third quarter. Its excess reserves rose sharply, nearly doubling, according to sources.

AI-written summary of 4 sources; every verified point is backed by a verbatim quote. How Iyan works

• Operating profit for the nine months reached about $4.5 billion, and the value of its Bitcoin reserves stood at $8.37 billion.

  «The USDT issuer reported $4.5 billion in nine-month operating profit, with Bitcoin reserves valued at $8.37 billion»

  Cointelegraph
• Tether's total assets reached $191.5 billion, according to one source.

  «total assets reaching $191.5 billion»

  Cointelegraph
• Tether's holdings of U.S. Treasury bonds reached $132.4 billion.

  «with $132.4B in Treasuries and $8.37B in Bitcoin»

  CoinCentral
• One source indicated that the increase in excess reserves was not due to operating profits alone, but was also affected by other changes in the balance sheet.

  «The increase in excess reserves was not solely the result of operating earnings.»

  FinanceFeeds

Iyan — See it for yourself. What changed in your world today, why it matters, and how we know.
How it works • Privacy • Terms