CandleFocus

Tether increases Bitcoin and gold reserves in latest quarterly report

Tether, the stablecoin issuer, has reported significant increases in its Bitcoin and precious metals holdings in Q3 2024, reaching $4.8 billion and $5 billion, respectively. The company also boosted its US Treasury Holdings to $102.5 billion, the largest portion of its reserves. With its net equity doubling to $14.2 billion, Tether's USDT in circulation reached an all-time high of nearly $120 billion. The company's issuance now stands close to the market cap of Circle's USDC, which is $35 billion. Tether also manages $7.7 billion in assets through Tether Investments Limited, which include investments in sustainable energy, Bitcoin mining, and data infrastructure. The report also disclosed three ongoing civil litigation proceedings against Tether Holdings Limited and its subsidiaries.

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