Tether posts $1.5B Q3 profit as reserve buffer nears $8B

Tether has reported $1.5 billion in third-quarter net operating profit while rebuilding its excess reserves to nearly $8 billion, almost twice the cushion it held three months earlier. Excess reserves reached $7.95 billion against $183.50 billion in total liabilities at September’s end. Direct and indirect U.S. Treasury bill holdings totaled $132.4 billion, according to Tether. Reserves included $19.08 billion in physical gold and $8.37 billion in Bitcoin. Nine-month operating profit reached $4.5 billion, with Treasury bills and reverse repos providing most income. Tether’s Oct. 30 announcement put total reserve assets at $191.45 billion as of Sep. 30.

Source: crypto.news