Tether reports $1.5 billion Q3 profit, reserve surplus jumps to $7.95 billion

Tether , the operator of the world’s largest stablecoin USDT, posted a third-quarter operating profit of $1.5 billion, according to its latest financial figures released alongside an attestation by independent accounting firm BDO. The company’s excess reserves nearly doubled to $7.95 billion compared to June, reflecting strengthened financial backing for its dollar-pegged token. At the close of September, Tether reported holding $191.5 billion in assets against $183.5 billion in liabilities. This resulted in a reserve surplus of $7.95 billion, a significant increase from the $4.1 billion surplus recorded three months earlier.

Also reported by The Defiant.

Source: CoinTurk News