According to BlockBeats, Tether has released its latest Q3 report, revealing a net profit of $2.5 billion for the third quarter of 2024, bringing the total annual profit to $7.7 billion. Approximately $1.3 billion of this profit is attributed to earnings from U.S. Treasury holdings, while $1.1 billion is due to unrealized gains from gold held in the company's reserves.
The financial report indicates that Tether's direct and indirect exposure to Treasury bills, including holdings in money market funds and reverse repurchase agreements, exceeds $102 billion. Additionally, the company's reserve assets include $5 billion worth of gold and $4.8 billion in Bitcoin (BTC).
One of the quarter's highlights is the record high circulation of Tether's stablecoin issuance, reaching nearly $120 billion. This marks a 30% increase in USDT issuance for 2024, with approximately 27.8 billion new tokens issued. As of September 30, Tether's asset reserves stood at $125.5 billion, with liabilities amounting to $119.4 billion. The excess reserves supporting Tether's stablecoins have risen to over $6 billion.
Furthermore, Tether Investments, the company's investment division, reported a net asset value of $7.7 billion, up from $6.2 billion in the previous quarter.
