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- Tether Assets Surge to $134.4B - What's Next for Stablecoins?
Tether Assets Surge to $134.4B - What's Next for Stablecoins?
Austin Hodge
November 01, 2024 • Read Time: 12 minutes
Tether has reached a financial pinnacle, reporting its highest ever total assets at a jaw-dropping $134.4 billion for Q3 2024. Raking in $2.5 Billion in net profit with no signs of slowing their T-Bill acquisitions, Tether now ranks as the 18th largest holder of US debt in the world, ahead of countries like Germany and Australia.
Not just a number on a balance sheet, Tether’s achievements reflect the surging demand for stablecoins in volatile markets while underscoring the pivotal role they play in the digital currency landscape.
Let’s dive in!
Tether hits a record high in total assets and net profit in Q3 2024, reaching $134.4 billion in assets. — Read More
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💵 Tether just dropped impressive Q3 results:
• Profit: $2.5B in Q3, totaling $7.7B for 2024
• Reserves: $102.5B in U.S. Treasuries, making Tether a top global holder
• Circulation: Nearly $120B USD₮, up 30% this year
• Excess Reserves: $6B buffer for added stability
•… x.com/i/web/status/1…
— Coinsauce (@CoinsauceCrypto)
7:09 AM • Nov 1, 2024
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🤝 Big news! Binance has partnered with Amazon Web Services (AWS) to enhance the KYC verification process using generative AI! 🚀
🔹 Auto-fills user info and performs efficient checks, boosting recognition rates to 95%!
🔹 Reduced costs by 80% and screening time by 30%!As… x.com/i/web/status/1…
— Crypto B 👑 (Never DM first) 🇧🇷 (@TheCrypto_B)
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