Tether's total equity has reached a historic high of $14.2 billion, with consolidated assets of $134.4 billion.
Source: cryptoslate
Translation: Blockchain Knight
Tether Limited recently announced its financial status for the third quarter, reporting a net profit of $2.5 billion. So far this year, Tether's profits have reached a record-breaking $7.7 billion.
Tether's "strong performance" in the third quarter is primarily attributed to its approximately $5 billion in gold holdings, which recorded a total of $1.1 billion in unrealized profits.
According to the latest assurance opinion from BDO on Tether, the company has increased its excess reserve buffer to over $6 billion, growing by 15% over the past nine months.
As a result, the company's total equity has reached a historic high of $14.2 billion, with consolidated assets of $134.4 billion.
Tether CEO Paolo Ardoino stated, "By increasing our reserve buffer to over $6 billion and maintaining a focus on strategic investments, Tether has once again set the standard for stability in the financial sector."
Additionally, Tether's issuing company currently holds over $105 billion in cash and cash equivalents, including a record $102.5 billion in U.S. Treasury bonds.
This amount places the crypto asset company among the top 18 holders of U.S. Treasury bonds globally, surpassing Germany, Australia, and the UAE, and nearly $5 billion more than Tether's last certification report.
Furthermore, the company has also increased its holdings by 7,100 BTC, currently valued at nearly $4.8 billion.
The circulation of Tether's stablecoin, Tether USD (USDT), has surged to nearly $120 billion, growing by 30% so far this year. This is a historic high for USDT supply, equivalent to an increase of $27.8 billion.
Ardoino added, "Reaching the $120 billion milestone and reporting an exposure of $102.5 billion in U.S. Treasury bonds showcases the company's unparalleled financial strength."
In addition to reserves, Tether's investment division has expanded its proprietary portfolio to $7.7 billion, investing in renewable energy, BTC mining, artificial intelligence, telecommunications, and education sectors.
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