Tether Records $2.5 Billion Net Profits In Q3

Tether released its attestation report for the third quarter of this year, showing that the stablecoin issuer again recorded a net profit in the last quarter

Stablecoin issuer Tether has recorded a net profit of $2.5 billion in the third quarter of this year, continuing a hot streak that saw the company post net profits in the first and second quarters as well.

According to an attestation report released by Tether on Thursday, the stablecoin issuer recorded a group net profit of $2.5 billion, leading to a nine-month consolidated profit of $7.7 billion over the first three quarters of this year.

The report also showed that the USDT issuer’s group equity reached $14.2 billion, while its total assets were consolidated at $134.4 billion.

This report comes amid reports that the US Department of Justice (DOJ) is investigating the stablecoin issuer.

The crypto firm noted that these figures marked a new all-time high (ATH) for them. Tether stated that this exceptional growth further solidified its position as an industry leader alongside their significant investments in strategic projects that aligned with its mission.

As part of the company’s major highlights in Q3, its stablecoin issuing companies reached a new ATH of almost $120 billion USDT in circulation. The USDT issuer noted that this represented a 30% growth in the coins issued in 2024 year-to-date, or $27.8 billion achieved by the company.

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