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 US...