Tether excess reserves nearly double to $8B, Q3 profit reaches $1.5B

The issuer's holdings of US Treasury securities are similar in scale to those held by prominent international entities.

Furthermore, at the conclusion of September, the value of its Bitcoin reserves was assessed at $8.37 billion.

These figures indicate a significant accumulation of assets by the stablecoin provider.

The composition of these reserves, including substantial US Treasury holdings, draws attention from financial oversight bodies.

This development aligns with broader scrutiny regarding asset backing within digital currency instruments.

Earlier coverage

• Binance hacker's 18,270 BTC, 500,000+ ETH haul tops Coinbase treasury Oct 30
• Thai Supreme Court rules bitcoin is property, upholds 10-year sentence for robber accomplice Oct 29
• CFTC Chair Selig warns AI agents could challenge financial rules Oct 29