Today, Tether's third-quarter financial report was released, and it was still quite explosive, which is one of the reasons why many friends asked me whether USDT would crash. I firmly believe it won't.

In the third quarter, Tether's profit exceeded $2.5 billion. As of September 30, 2024, Tether's total assets were $134.424 billion, total liabilities were $120.272 billion, and net assets were $14.152 billion.

Among them, the total value of reserve assets was $125.472 billion, exceeding the corresponding total liabilities of $119.38 billion, with excess reserves of $6.092 billion. In the third quarter, the quantity of U.S. Treasury bonds held directly and indirectly increased, totaling over $102 billion.

In simpler terms, a large portion of USDT's backing is based on U.S. Treasury bonds, and Tether's main profit also comes from the returns on these bonds. To put it simply, as long as Tether doesn't act recklessly, it won't fail.

Additionally, as of the third quarter, Tether held a total of 75,353.56 #BTC. This number not only did not increase compared to the second quarter but instead decreased by 187.71 BTC.

PS: I don't know how many friends remember that Tether stated in the first quarter of 2023 that it would use 15% of each quarter's profit to purchase #Bitcoin, but by the third quarter of 2024, not only was there no new increase in BTC, but it actually decreased, which is a breach of trust.