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[Tether's Third-quarter Net Profit Reached $2.5 Billion, And Its Profit So Far This Year Is $7.7 Billion] Stablecoin Issuer Tether Reported On Thursday That The Group's Net Profit In The Third Quarter Was $2.5 Billion, Bringing The Profit To $7.7 Billion So Far This Year, And The Market Value Of Its Flagship Cryptocurrency USDT Is Close To $120 Billion. Tether CEO Paolo Ardoino Said On The X Platform That About $1.3 Billion Of The Profit Came From U.S. Treasury Bond Gains, And Another $1.1 Billion Came From Unrealized Appreciation Of Gold Holdings In The Company's Reserves. Gold Prices Rose By About 15% In The Third Quarter. According To The Latest Quarterly Certificate Signed By Accounting Firm BDO Italy, As Of September 30, The Company's Stablecoin Issuing Divisions Tether International Limited And Tether Limited Disclosed Reserve Assets Of $125.5 Billion, Corresponding Liabilities Of $119.4 Billion, And Excess Reserves Of More Than $6 Billion. The Certificate Shows That About $105 Billion Of Reserve Assets Are Held In The Form Of Cash And Cash Equivalents, Including $84.5 Billion In U.S. Treasury Bonds. The Company's Direct And Indirect Exposure To Treasury Bonds, Including Money Market Funds And Reverse Repurchase Agreements, Exceeds $102 Billion. The Reserve Assets Also Include $5 Billion Worth Of Gold And $4.8 Billion In Bitcoin BTC. Tether Investments, Tether's Investment Arm, Which Manages The Company's Expansion Into Energy, Mining And Artificial Intelligence, Has A Net Asset Value Of $7.7 Billion, Up From $6.2 Billion In The Previous Quarter. The Company Disclosed In A Blog Post That It Holds 7,100 Bitcoin BTC, Worth Nearly $500 Million. Tether's USDT Is An Important Part Of The Digital Asset Ecosystem, The Third Largest Cryptocurrency By Market Value, A Major Form Of Liquidity On Exchanges, And Increasingly Used As A Payment Method In Emerging Markets. The Wall Street Journal Reported Last Week That Tether Is Under A U.S. Criminal Investigation For Suspected Violations Of Sanctions And Anti-money Laundering Laws, Which The Company Denied. Tether CEO Paolo Ardoino Said In An Interview With CoinDesk That The Company Respects U.S. Sanctions And Is Committed To Continuing To Be A Large Buyer Of U.S. Debt
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