Celsius

2024

Bitcoin

<ul class="wp-block-list">
  
 <li>Tether’s Q3 profits hit $2.5B as USDT demand grows, nearing $120B in circulation.</li>   
 <li>Tether’s reserves rise with $102.5B in Treasuries, $4.8B in Bitcoin, and $5B in precious metals.</li>   
 <li>Tether diversifies with $7.7B in sustainable energy and tech investments, boosting market stability.</li> 
</ul>   
<p>Tether has <a href="https://tether.io/news/tether-hits-7-7-billion-2024-nine-month-profits-102-5-billion-in-u-s-treasury-holdings-almost-120-billion-usd%e2%82%ae-circulation-and-an-over-6-billion-reserve-buffer-in-q3-2024-attestation/" target="_blank" rel="noreferrer noopener">reported</a> 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.&nbsp;</p>   
<p>This increase led to Treasuries becoming the most significant part of Tether's reserves. Moreover, the company's investments in <a href="https://bitcoin.org/" target="_blank" rel="noreferrer noopener nofollow">Bitcoin</a> and precious metals increased to $4.8 billion and $5 billion, respectively.</p>   
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<p>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 <a href="https://www.coingecko.com/en/coins/usdc" target="_blank" rel="noreferrer noopener nofollow">CoinGecko</a> data.</p>   
<h2 class="wp-block-heading" id="h-tether-diversifies-with-new-investment-ventures"><strong>Tether Diversifies with New Investment Ventures</strong></h2>   
<p>Beyond its core assets, Tether <a href="https://cryptonewsland.com/tether-highlights-5-5-billion-bitcoin-holdings/">expanded</a> its reach through Tether Investments Limited. This entity now manages $7.7 billion across several sectors, including sustainable energy, Bitcoin mining, and data infrastructure.&nbsp;</p>   
<p>These investments operate independently from Tether’s reserves, offering additional growth avenues. Significantly, they also reduce reliance on core stablecoin operations.</p>   
<h2 class="wp-block-heading" id="h-ongoing-litigation-cases"><strong>Ongoing Litigation Cases</strong></h2>   
<p>Tether acknowledged three ongoing civil litigations. These include a class action related to Bitcoin’s 2017-2018 price drop, a dispute <a href="https://www.ledgerinsights.com/tether-stablecoins-near-miss-celsius-took-2-years-to-sue-re-bankruptcy-treatment/" target="_blank" rel="noreferrer noopener nofollow">linked</a> 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.</p>   
<h2 class="wp-block-heading" id="h-q3-profits-strengthen-tether-s-market-position"><strong>Q3 Profits Strengthen Tether’s Market Position</strong></h2>   
<p>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.&nbsp;</p>   
<p>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.</p>   
<p>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.</p> 
<p>The post <a href="https://cryptonewsland.com/q3-surge-tether-boosts-treasury-holdings-to-102-5-billion/">Q3 Surge: Tether Boosts Treasury Holdings to $102.5 Billion, Grows Bitcoin and Precious Metals Reserves</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

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

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