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Tether has posted a record-breaking $2.5 billion in profits for the third quarter of 2024, boosting its consolidated earnings this year to $7.7 billion.

Tether Limited reported $2.5 billion in net profit for the third quarter. bringing its year-to-date gains to a record-breaking $7.7 billion.

Tether Limited reported $2.5 billion in net profit for the third quarter, bringing its year-to-date profits to a record-breaking $7.7 billion. The firm's strong third-quarter numbers were primarily boosted by its gold holdings, which amount to roughly $5 billion, recording $1.1 billion in unrealized profit.

Tether released its attestation report for the third quarter of this year, showing that the stablecoin issuer again recorded a net profit in the last quarter thanks mainly to its exposure to US treasuries and gold. This continues the company's hot streak, having recorded net profits in the first and second quarters of the year.

In its latest attestation report, Tether said it had registered $7.7 billion in profit through the first nine months of 2024.

Tether's consolidated profit in 2024 has reached $7.7 billion, with $14.2 billion in equity and total assets of $134.4 billion.

Tether, the leading stablecoin issuer, recorded a net profit of $2.5 billion in the third quarter of 2024, according to the recently released attestation report prepared by accounting firm BDO.

The company's flagship stablecoin USDT is the third-largest cryptocurrency with a $120 billion market capitalization.

Tethers USDT hits record $120B in circulation as it grows Bitcoin and gold reserves. The post Tether increases Bitcoin and gold reserves in latest Q3 report appeared first on Crypto Briefing.

If you need to sell Tether USDT for Euro cash in Marbella, Spain, use the usual electronic exchange mode. Such services can have several significant translations: These advantages will work with online exchangers, making them the best choice for more customers.

A South American nation is paving its way to becoming a leader in cryptocurrency adoption. Bolivia, known for its rich cultural heritage, is making strides in the digital currency space as one of its prominent banks, Banco Bisa, has launched a custody service for Tether's stablecoin, USDT.

It's been a busy week for Tether, as the company announced that it had authorized the minting of another 1 billion USDT tokens, pushing the total number of minted tokens to $33 billion in the last year. According to blockchain data, the additional tokens were minted on the Tron network and immediately sent to the company's treasury wallet.

In a bold expansion, Donald Trump's crypto venture, World Liberty Financial (WLFI), is reportedly planning to develop its own stablecoin—a USD-backed digital asset aimed at creating stability in the volatile crypto space.

Tether, the issuer of the widely used stablecoin USDT, has found itself at the center of controversy and scrutiny. Allegations surfaced regarding potential ties to illegal activities and sanctioned entities, raising eyebrows in the financial community.

USDT is now live in the Aptos blockchain. This shift can change the concepts of cheap and immediate international payments.

A South American nation is traversing the path toward becoming a champion in cryptocurrency in the region. Related Reading: Memecoins Thrived Under SEC's ‘Oppressive Regime,' Crypto Analyst Says Bolivians now have the opportunity to invest in digital currency as one of the country's leading financial institutions introduced a custody service dedicated to Tether's stablecoin, USDT.

Binance introduces the Futures Present Promotion, allowing users to share Futures positions and earn from a 12,000 USDT reward pool. The promotion runs from October 30 to November 12, 2024.

The service in Bolivia will be available for customers to transfer funds abroad and facilitate payments for family members studying overseas.

Tether, the issuer of the popular stablecoin USDT, has made a significant move to fortify its reserves by adding over 82,000 Bitcoin (BTC) to its holdings. This addition, which amounts to approximately $5.58 billion, is part of Tether's broader strategy to enhance the stability of USDT and bolster transparency regarding its financial backing.

Rumors have been circulating that Tether may be the subject of a federal investigation.

Tether chief executive Paolo Ardoino is updating the quantity of Bitcoin (BTC) and other assets that the stablecoin issuer currently holds on its balance sheet. In a post on the social media platform X, Ardoino says Tether now holds over 82,000 Bitcoin, a stash worth approximately $5.8 billion at the prevailing BTC price.

Aptos just announced that USDT is now natively available in its ecosystem. This comes at a time when APT is starting to show signs of a potential major move.

Bolivia-based Banco Bisa has begun offering Tether stablecoin USDT custody. Customers can now buy, sell, and trade USDT through the bank, making Bolivia one of the first countries to embrace crypto.

Tether has garnered attention by disclosing its reserves for the first time in early 2023, revealing that gold comprises a larger portion than Bitcoin.