Tether Reports $1.5B Q3 Profit And $8B Excess Reserve Buffer

Stablecoin issuer Tether reported $1.5 billion in third-quarter net operating profit while rebuilding its excess reserves to nearly $8 billion, according to CryptoNews. The reported cushion is almost twice the size of the $4.11 billion excess reserves held at the end of the second quarter.

Reserve Composition and Liabilities

According to the company's announcement, total reserve assets stood at $191.45 billion as of September 30, backing $183.50 billion in total liabilities. Assets included $132.4 billion in direct and indirect U.S. Treasury bill holdings, alongside $19.08 billion in physical gold and $8.37 billion in Bitcoin. BDO prepared the attestation covering the financial figures and assets backing the dollar-linked tokens.

Nine-Month Performance

For the first nine months of the year, Tether recorded an operating profit of $4.5 billion. Treasury bills and reverse repurchase agreements provided the majority of the income during the period. Tether CEO Paolo Ardoino stated that liquidity for redemptions and financial resources to support infrastructure remain priorities for the reserve strategy.

Key facts

• Third-quarter net operating profit reached $1.5 billion, bringing the nine-month total to $4.5 billion.
• Excess reserves stood at $7.95 billion against $183.50 billion in total liabilities at September's end.
• Total reserve assets were recorded at $191.45 billion, including $132.4 billion in U.S. Treasury bills.
• Holdings included $19.08 billion in physical gold and $8.37 billion in Bitcoin.