Tether Q3 Profit Reaches $1.5B as Excess Reserves Rise to $8B

Tether said it generated $1.5 billion in third-quarter net operating profit, with its reserve buffer strengthening sharply as excess reserves nearly doubled to $7.95 billion. The figures were released alongside the company’s latest attestation prepared by independent accounting firm BDO. For the quarter ended September, Tether reported $191.5 billion in total assets against $183.5 billion in liabilities, leaving a surplus that is close to twice the $4.1 billion buffer reported in June. The company also highlighted its heavy exposure to US Treasury instruments, including $132.4 billion in direct and indirect Treasury bill holdings.

Source: Crypto Breaking News