Tether, Announcing its financial performance for the third quarter of 2024, it announced that it achieved a Group net profit of $2.5 billion and a cumulative nine-month profit of $7.7 billion.
These figures reflect all-time highs for the stablecoin issuer, with total assets reaching $134.4 billion and group equity capital reaching $14.2 billion.
Tether’s latest certification report confirms the accuracy of the Consolidated Financial Figures and Reserves Report (CFFRR), which provides information about the company’s financial strength and assets held as reserves. Tether has reached nearly $120 billion in USD₮ circulation as of September 30, 2024 (a 30% increase to date), highlighting continued global demand for its stablecoin.
Tether’s reserves remain strong, marking a new record, with over $105 billion in cash and cash equivalents, $102.5 billion of which are direct and indirect U.S. Treasury exposures. If classified as a country, Tether’s Treasury holdings place it among the top 18 global asset holders, ahead of countries such as Germany, Australia and the UAE. Tether also reported an excess reserve buffer of more than $6 billion, an increase of 15% in nine months. The company’s investments in gold assets generated unrealized profits of approximately $1.1 billion.
Tether CEO Paolo Ardoino said in his statement:
“Our performance in Q3 2024 underlines our unwavering commitment to transparency, liquidity and responsible risk management. Reaching the USD₮120 billion milestone and holding $102.5 billion in US Government Bonds demonstrates Tether’s financial strength.”
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, Twitter our account and Youtube Follow our channel now! Moreover Android ve IOS Start live price monitoring now by downloading our applications!
Source: https://www.bitcoinsistemi.com/tether-ucuncu-ceyrek-mali-raporunu-yayinladi-rekor-geldi-iste-tum-detaylar/
