Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B

Bitcoin reserves held by the stablecoin issuer reached $8.37 billion by the close of September. This stablecoin issuer's holdings in US Treasury securities are on par with those maintained by significant international holders. Furthermore, the company registered a profit of $1.5B during the third quarter, leading to its excess reserves almost doubling to $8B.