2024

Tether has announced its financial performance for the third quarter of 2024, announcing Group net profit of $2.5 billion and cumulative nine-month profit of $7.7 billion.
These figures, which see total assets reach $134.4 billion and group equity reach $14.2 billion, reflect all-time highs for the stablecoin issuer.
Tether’s latest attestation report confirms the accuracy of its Consolidated Financial Figures and Reserves Report (CFFRR), which provides information about the company’s financial strength and assets held in reserves. Tether has driven the ongoing global demand for its stablecoin, reaching nearly $120 billion in USD₮ circulation as of September 30, 2024 (a 30% increase year-to-date).
Tether’s reserves remain strong, marking a new record, with over $105 billion in cash and cash equivalents, including $102.5 billion in direct and indirect U.S. Treasury exposure. If classified as a sovereign, Tether’s Treasury holdings would place it among the top 18 global asset holders, ahead of countries such as Germany, Australia, and the UAE. Tether also reported an excess reserve buffer of over $6 billion, up 15% in nine months. The company’s investments in gold assets generated approximately $1.1 billion in unrealized gains.
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Tether CEO Paolo Ardoino said in a statement:
<blockquote>
 “Our performance in Q3 2024 underscores our unwavering commitment to transparency, liquidity, and responsible risk management. Reaching the $120 billion USD₮ milestone and holding $102.5 billion in U.S. Government Bonds demonstrates Tether’s financial strength.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/tether-publishes-third-quarter-financial-report-setting-a-record-here-are-all-details/" rel="noopener noreferrer nofollow">Tether Publishes Third Quarter Financial Report, Setting a Record – Here are All Details</a>

Tether Publishes Third Quarter Financial Report, Setting a Record – Here are All Details

Bitcoin Sistemi EN

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