Tether Reports Record Profits, Boosts Reserves Amid Growing Financial Strength
Tether Limited has announced a remarkable net profit of $2.5 billion for the third quarter, bringing its total profits for the year to a record-setting $7.7 billion.
This impressive performance is largely attributed to its gold investments, which are valued at approximately $5 billion and generated unrealized gains of $1.1 billion.
An assurance opinion from accounting firm BDO reveals that Tether has increased its excess reserve buffer to over $6 billion, reflecting a 15% growth over the past nine months. Consequently, the company’s total equity has reached an unprecedented $14.2 billion, with total assets amounting to $134.4 billion. Tether CEO Paolo Ardoino emphasized the company’s commitment to stability, stating that increasing reserves and strategic investments set a new benchmark in the financial industry.
Tether’s issuing entities now maintain over $105 billion in cash and cash equivalents, including a notable $102.5 billion in U.S. Treasuries. This positions Tether among the top 18 global holders of U.S. Treasuries, surpassing countries like Germany and Australia, and reflecting a nearly $5 billion increase since the last report.
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The firm has also acquired an additional 7,100 Bitcoin, now valued at nearly $4.8 billion, while its stablecoin, Tether USD (USDT), has surged to a circulation of nearly $120 billion—a 30% increase this year. Ardoino highlighted the significance of reaching this milestone and the firm’s substantial U.S. Treasury exposure, which underscores its financial resilience.
Furthermore, Tether’s investment division has expanded its portfolio to $7.7 billion, with investments in sectors such as renewable energy, Bitcoin mining, artificial intelligence, telecommunications, and education.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
