Tether’s Q3 profit was a record $1.5 billion, bringing its net operating profit over the last nine months to $4.5 billion. The company, which issues the USDT stablecoin, is strengthening its position in the crypto and traditional financial sectors.
Record-Breaking Financial Results
As we covered for Incrypted, Tether’s Q3 profit was $1.5 billion, which is a record for the company. Over the first nine months of this year, the company has earned a total of $4.5 billion in net operating profit. This confirms Tether’s status as the world’s leading stablecoin issuer and a major player in the financial system.
US Treasury Investments Drive Growth
One of the main reasons for Tether’s Q3 profit was its investment in US Treasury bonds. The company has invested more than $132 billion in these assets, which have become safe havens. This is one of the reasons why the company has achieved record results. Additionally, investments in Treasury bonds increase Tether’s profitability and the security of USDT’s backing.
Reserves and Liquidity Reach New Heights
In just three months, Tether almost doubled its excess reserves, which now amount to $7.9 billion. According to CEO Paolo Ardoino, this level of liquidity has ensured that Tether is able to process withdrawal requests immediately, even in times of market stress. This is a significant advantage for the company, making Tether stable and attractive to institutions and ordinary users.
The user base for USDT has already exceeded 700 million people worldwide, which indicates the popularity of the token. Tether’s management notes that the company is no longer a typical crypto business and has become a global financial conglomerate with a wide range of activities. This means that the company will be able to influence trends in many areas.
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