Update
Tether’s Excess Reserves Nearly Double to $8B
Tether reported $1.5 billion in third-quarter operating profit, with its excess reserves nearly doubling to $7.95 billion. The company held $191.5 billion in assets against $183.5 billion in liabilities at the end of September, leaving a reserve surplus of $7.95 billion. Tether’s Bitcoin reserves were valued at $8.37 billion, up from approximately $5.8 billion at the end of June.