Key Highlights
Tether has boosted its investments in Bitcoin and gold, now holding $4.8 billion in Bitcoin and $5 billion in gold. Tether’s total net worth soared to $14.2 billion in the third quarter of 2024, a significant rise from $7 billion at the close of 2023.
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According to Tether’s latest consolidated financial report, the company has raised its Bitcoin and precious metal holdings to $4.8 billion and $5 billion, respectively, in the third quarter of 2024.
Furthermore, stablecoin issuers have significantly ramped up their US Treasuries investments, totaling $102.5 billion, making it the largest share of their reserves.
With a robust financial framework, Tether’s net assets surged to $14.2 billion, effectively doubling from last year’s $7 billion.
This quarter, Tether’s circulating USDT reached an unprecedented high of almost $120 billion, driven by increasing global interest.
In 2024, Tether has seen a 30% growth, adding $27.8 billion since the year’s beginning, bringing it close to Circle’s USDC market cap of $35 billion, as reported by CoinGecko.
The company also oversees $7.7 billion in investments in sectors such as renewable energy, Bitcoin mining, and data infrastructure through its subsidiary, Tether Investments Limited. These assets are separate from the reserves that back Tether tokens.
The report also mentioned three active legal matters involving Tether Holdings Limited and its affiliates. However, management does not believe it will need to make any provisions for these cases.
The first legal challenge is a class action lawsuit linked to the drop in Bitcoin values in 2017 and 2018. The second lawsuit results from the bankruptcy of Celsius, and the third pertains to a disagreement regarding USDT stored in wallets not managed by Tether.
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