Techub News reports that Tether has published its third-quarter report for 2024, audited by the independent accounting firm BDO. The net profit for this quarter is $2.5 billion, and the year-to-date profit has reached $7.7 billion.
In terms of reserves, Tether currently holds over $105 billion in cash and cash equivalents, with direct and indirect holdings of U.S. Treasury bonds amounting to $102.5 billion. The net profit for the third quarter is primarily attributed to the strong performance of its gold holdings, generating approximately $1.1 billion in unrealized profits this quarter.
Furthermore, the report indicates that as of September 30, excluding support for the issuance of stablecoin reserves, Tether's investment department's proprietary investments have reached $7.7 billion. These strategic investments span across sectors such as renewable energy, Bitcoin mining, artificial intelligence, telecommunications, and education. As of September 30, Tether's investment department holds 7,100 Bitcoins.
