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1h ago

Tether’s Bitcoin Stash Grows After 8,889 BTC Transfer as USDT Nears $175 Billion

The move highlights Tether’s ongoing shift toward hard assets to back a rapidly expanding stablecoin footprint.

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

  • On-chain trackers Arkham and Nansen flagged 8,889 BTC moving from a Bitfinex-linked wallet to an address tagged "Tether: Bitcoin Reserves."
  • The transfer lifts disclosed bitcoin holdings to just over 86,000 BTC worth about $9.7 billion, up from $8.9 billion reported in Tether’s Q2 attestation.
  • Tether has not confirmed whether the activity represents a new purchase or an internal transfer between affiliated wallets.
  • The timing aligns with a recurring pattern of end‑of‑quarter adjustments to Tether’s bitcoin reserves observed in prior quarters.
  • Separate reporting points to an active $15–20 billion equity raise and development of a U.S.-compliant stablecoin called USAT, with Cantor Fitzgerald said to be advising.