Tether reports $1.5B quarterly profit, reserves hit $8B

Tether disclosed a net profit of $1.5 billion for the third quarter, while its excess reserves nearly doubled to $8 billion. The stablecoin issuer's U.S. Treasury holdings now rival those of major foreign holders. As of the end of September, Tether's Bitcoin reserves were valued at $8.37 billion. Why it matters: These figures reflect the growing financial footprint of the largest stablecoin issuer, which now holds substantial traditional and crypto assets on its balance sheet.

How do you view stablecoin issuers holding large Bitcoin reserves?

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