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Tether Moves $1 Billion in Bitcoin to Reserves as USDT Nears $175 Billion

A late-October attestation will test whether the on-chain top-up is reflected in Tether’s reported reserves.

Tether
Tether adds $1b in bitcoin to reserves as usdt supply nears $175b, blockchain data shows
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Overview

  • Blockchain data show 8,889 BTC moved from a Bitfinex-linked wallet to an address tagged “Tether: Bitcoin Reserves,” a transfer CEO Paolo Ardoino publicly acknowledged.
  • Tether’s primary on-chain treasury now holds roughly 86,000 BTC valued near $9.7–$10 billion, compared with $8.9 billion reported in its June attestation.
  • The quarter-end addition matches a recurring pattern flagged by analytics firms, with markets watching the upcoming attestation for reconciliation with on-chain activity.
  • USDT’s circulating supply has grown about 10% in the past quarter to roughly $174.6–$175 billion, reinforcing Tether’s lead in the stablecoin market.
  • The company continues diversifying reserves into bitcoin, gold and real assets, is evaluating a $15–$20 billion equity raise near a $500 billion valuation, and is preparing a U.S.-compliant stablecoin called USAT led by Bo Hines.