Tether increases its Bitcoin and gold holdings to $4.8B and $5B respectively
- Tether (USDT) circulation surged to $120B, marking a 30% increase in 2024.
- Tether’s Bitcoin and gold holdings increased to $4.8B and $5B, respectively.
- Tether’s net equity doubled to $14.2B, while it faces ongoing legal challenges.
Tether has announced a substantial increase in its Bitcoin and gold reserves, as detailed in its latest Q3 2024 Consolidated Financials Figures and Reserves Report .
Tether’s Bitcoin holdings have reached an impressive $4.8 billion, while its gold reserves now stand at $5 billion, reflecting the company’s strategy to bolster its asset base amid rising global demand for its stablecoin, USDT.
Circulation of USDT increases by 30%
This quarter has been particularly notable for Tether , as the circulation of USDT has soared to a record $120 billion, marking a 30% increase in 2024.
This surge adds $27.8 billion year-to-date and positions Tether’s market cap close to that of its competitor, Circle’s USDC, which currently stands at $35 billion according to CoinGecko data.
Tether’s growth is indicative of the increasing reliance on stablecoins within the cryptocurrency ecosystem, driven by greater adoption and market confidence.
Tether expands its US Treasury Bills holdings
Additionally, Tether has significantly expanded its holdings in US Treasury Bills, which now total $84.5 billion, constituting the largest segment of its reserves. This strategic move has contributed to Tether’s robust financial health, with net equity doubling to $14.2 billion from $7 billion at the end of 2023.
Furthermore, through its subsidiary, Tether Investments Limited, the company manages an additional $7.7 billion in assets across sectors such as sustainable energy, Bitcoin mining, and data infrastructure. However, these assets are not included in the reserves backing Tether tokens.
Despite its growth, Tether is currently navigating three civil litigation proceedings involving its holdings and operations. Notably, these cases include a class action related to Bitcoin’s price decline in 2017-2018, a lawsuit stemming from the Celsius bankruptcy, and a dispute over USDT in a non-Tether controlled wallet.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Can Trump stop Elon Musk from using Americans’ data for personal gain after DOGE?
Share link:In this post: Senator Jeanne Shaheen asked Trump to make Musk and DOGE staff certify they won’t use private government data for personal gain. DOGE employees accessed sensitive data from multiple U.S. agencies while slashing government departments. Steve Bannon also pushed for written proof Musk isn’t taking government data back to his companies.
Trump is singing a different tune about ‘buddy’ Putin in private
Share link:In this post: Trump told European leaders privately that Putin believes he’s winning and won’t end the war. He backed away from threats of sanctions and pushed for low-level talks at the Vatican instead. European leaders urged a cease-fire, but Trump rejected the term “unconditional” despite using it earlier.
OpenAI acquires Jony Ive’s io for $6.5B in a bold bid to disrupt AI hardware

Bitcoin Hits a New Record, But When Will the Big Altcoin Bull Run Begin? Analyst Reveals Conditions
Trending news
MoreCrypto prices
More








