Tether (USDT) circulation surged to $120B, marking a 30% increase in 2024.
\nTether\u2019s Bitcoin and gold holdings increased to $4.8B and $5B, respectively.
\nTether\u2019s net equity doubled to $14.2B, while it faces ongoing legal challenges.<\/p>\n
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<\/a>.<\/p>\n Tether\u2019s Bitcoin holdings have reached an impressive $4.8 billion, while its gold reserves now stand at $5 billion, reflecting the company\u2019s strategy to bolster its asset base amid rising global demand for its stablecoin, USDT.<\/p>\n This quarter has been particularly notable for Tether<\/a>, as the circulation of USDT has soared to a record $120 billion, marking a 30% increase in 2024.<\/p>\n This surge adds $27.8 billion year-to-date and positions Tether\u2019s market cap close to that of its competitor, Circle\u2019s USDC, which currently stands at $35 billion according to CoinGecko data.<\/p>\n Tether\u2019s growth is indicative of the increasing reliance on stablecoins within the cryptocurrency ecosystem, driven by greater adoption and market confidence.<\/p>\n 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\u2019s robust financial health, with net equity doubling to $14.2 billion from $7 billion at the end of 2023.<\/p>\n 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.<\/p>\n 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\u2019s price<\/a> decline in 2017-2018, a lawsuit stemming from the Celsius bankruptcy, and a dispute over USDT in a non-Tether controlled wallet.<\/p>\n The post Tether increases its Bitcoin and gold holdings to $4.8B and $5B respectively<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Tether (USDT) circulation surged to $120B, marking a 30% increase in 2024. Tether\u2019s Bitcoin and gold holdings increased to $4.8B and $5B, respectively. Tether\u2019s 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 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-1768","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1768"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1768\/revisions"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Circulation of USDT increases by 30%<\/h2>\n
Tether expands its US Treasury Bills holdings<\/h2>\n