Imagine a stablecoin issuer that made $2.5 billion in just one quarter, and its U.S. Treasury bond holdings surpassed $100 billion! Doesn't that sound like a fantasy? But Tether really did it!
That's right, just on Thursday, Tether announced its third-quarter net profit reached an astounding $2.5 billion, bringing the year-to-date earnings to $7.7 billion. This is not a small number, enough to make countless investors envious. Even more impressive, Tether's equity has reached a record $14.2 billion, making it a dark horse in the cryptocurrency space!
Its USDT circulation is also approaching $120 billion, with the number of tokens issued this year increasing by 30%. What does this mean? It means more and more people are beginning to trust and use Tether's stablecoin!
But Tether is not just satisfied with that. Its reserves now exceed $105 billion in cash and equivalents, with $102.5 billion invested in U.S. Treasury bonds. If we consider Tether as a sovereign entity, it is one of the top 18 holders of U.S. Treasury bonds globally! This strength is truly impressive.
Furthermore, Tether has increased its excess reserve buffer by 15% this year, totaling over $6 billion. Additionally, its gold holdings generated approximately $1.1 billion in unrealized gains this quarter. This is simply a guaranteed profit!
Of course, some may wonder: How is Tether making so much money, and what is its asset and liability situation? Don't worry, the financial report has provided the answer. As of September 30, Tether's total assets amount to $125.5 billion, with liabilities of $119.4 billion. This means Tether's excess reserves supporting its stablecoin have increased to over $6 billion, which is a solid guarantee!
Moreover, Tether also holds $4.9 billion in gold and $4.7 billion in Bitcoin (BTC). The investment department additionally holds 7,100 Bitcoins. This diversified investment strategy makes Tether stand out in the cryptocurrency space.
At this point, you might wonder: With Tether being so powerful, could there be any risks? In fact, Tether has long considered this. It has partnered with BDO Italia for asset verification to provide regular updates regarding the assets supporting its USDT tokens. This way, investors and regulators can trust Tether's stablecoin more.
However, there have been recent rumors that U.S. federal investigators are looking into whether Tether may have violated sanctions and anti-money laundering laws. But Tether's CEO, Paolo Ardoino, has refuted this report, stating that the actions mentioned are old news. So, everyone shouldn't worry too much.
Overall, Tether is really on fire this time! Its strong performance and hundreds of billions in U.S. Treasury bond holdings have driven countless investors crazy. If you're still hesitating about investing in stablecoins, you really need to think carefully. After all, in this rapidly changing cryptocurrency space, finding a reliable stablecoin issuer is not an easy task!
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The above content is for information sharing only and does not constitute any investment advice! Investing involves risks, and one should proceed with caution!
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