Tether's Impact on Crypto and Treasury Bonds
Crypto Leader Tether Surpasses Major Economies
Crypto powerhouse Tether, the issuer of USDT, now holds an impressive $102.5 billion in US Treasury bonds, surpassing Germany, Australia, and the UAE in Q3 2024. This remarkable achievement showcases Tether's growth and its domination within the cryptocurrency sector.
Strong Balance Sheet and Net Profits
With total assets amounting to $134.4 billion, Tether announced net profits of $2.4 billion in the last quarter alone. The gains from US Treasury exposures account for approximately $1.3 billion of this figure, highlighting Tether's investment strategy.
- Tether is the 18th largest holder of US Treasury bonds.
- USDT market cap has surged above $120 billion.
- Tether's ownership positions it favorably in emerging and developed markets.
USDT's Growing Relevance
As Tether's market capitalization increases, USDT's relevance is significantly noted in developing countries. Paolo Ardoino, Tether's CEO, emphasizes that USDT serves as a digital dollar for those underserved by traditional banking.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.