Tether Holdings Limited, the issuer of the world’s largest stablecoin, has released its Q3 2024 assurance opinion prepared by BDO, a global accounting firm. The report shows Tether’s financial resilience, with a record net profit of $2.5 billion, pushing its year-to-date profit to $7.7 billion, group equity to $14.2 billion, and total consolidated assets to $134.4 billion.

Demand for Tether’s USD₮ stablecoin reached new heights, with nearly $120 billion in circulation, marking a 30% increase year-to-date. Tether’s reserves also set records, with over $105 billion in cash equivalents, $102.5 billion of which are in U.S. Treasuries. This holding places Tether among the top 18 global holders of U.S. Treasuries, ahead of countries like Germany and Australia.

Tether’s reserve buffer surpassed $6 billion, with gold holdings adding $1.1 billion in unrealized gains. Its proprietary investment arm, now valued at $7.7 billion, funds projects across renewable energy, AI, and Bitcoin mining, supporting Tether’s mission to drive innovation and financial inclusion.

CEO Paolo Ardoino commended Tether’s performance, highlighting the company’s “unwavering dedication to transparency, liquidity, and prudent risk management.” Tether’s increased reserve buffer and strategic investments further cement its role as a leader in financial stability within the digital asset space.

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