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Tether Q3 Attestation Shows $10 Billion YTD Profit, $135 Billion in U.S. Treasuries

The disclosure underscores Tether’s expanding role in global finance through sovereign-scale Treasury holdings alongside rapid stablecoin issuance.

Overview

  • Reserves stood at about $181.22 billion against $174.45 billion in liabilities as of Sept. 30, leaving roughly $6.8 billion in excess.
  • Treasury exposure reached approximately $135 billion, a level the company says would rank it near the 17th-largest holder of U.S. government debt.
  • USDT supply rose by about $17 billion in Q3 to exceed $174 billion, with the company later reporting circulation above $183 billion in October.
  • Tether’s disclosed reserves included around $12.9 billion in gold and $9.9 billion in bitcoin, while proprietary investments are kept separate from backing assets.
  • The company launched a share buyback with prospective institutional participation, outlined a U.S.-focused USAT stablecoin with Anchorage Digital, applied for an Investment Fund License in El Salvador, and said its October Celsius settlement used proprietary capital.