Tether’s $2.5B Q3 Profit Driven by Soaring USDT Demand, Preps for Ripple Competition
Tether achieved a record $2.5 billion profit in Q3 2024 due to strong demand for USDT and U.S. Treasury yields. The company’s cash reserves are backed by over $105 billion, mostly in U.S. Treasury bills. Stablecoin issuer Tether has reported a record-breaking profit of $2.5 billion for Q3 2024, marking another robust quarter fueled by…