Eddy

Tether released attestation for Q3/2024. Another impressive quarter. Summary as of 30 September 2024 for the companies managing stablecoins' reserves: - $2.4 billion Q3/2024 net profits (~$1.3 billion deriving from U.S. Treasuries exposures and ~$1.1 billion from gold holdings) - $102.5 billion in U.S. treasuries exposures, putting Tether at the 18th place in global government ranking, above Germany, Australia and UAE - $6+ billion in excess reserves (on top of the 100% reserves in liquid assets that back all issued tokens) - 30% growth in $USDt market cap year-to-date, equivalent to almost our closest competitor's total market cap Additional information for the entire Tether Group: - $134.4 billion in Group's consolidated total assets - $7.7 billion equity in Tether Investments arm (separated from Tether's Stablecoins' reserves), including additional 7100 #bitcoin Current outlook for Q4/2024 is very positive. Our team at Tether Insights recently released a research thread ( xitter.cf/philip_gradwell/status… ) demonstrating a total of 330 million on-chain wallets and accounts ever receiving $USDt, not even counting the several tens of millions of users that hold and transact in $USDt only through centralised exchanges. On top of that, the growth of new on-chain $USDt wallets per quarter seems to be accelerating very fast, reaching the staggering amount of more than 35 million new addresses per quarter. The numbers above are extremely significant, especially because the majority of $USDt usage is concentrated in developing countries and emerging markets. It's evident that $USDt is the digital dollar for hundreds of millions of people who have been left behind by the banking industry because they are too poor and not generating enough commissions on a yearly basis to justify opening a bank account for them. While the Western World has been talking about financial inclusion, as the motto and one of the main goals of the 21st century, little has been achieved by most companies, apart from hyperbolic marketing stunts. That's called "Financial Inclusion washing". But since inception in 2014, Tether created a product, $USDt, that truly serves the underserved, the last mile, the normal people, the ones that don't have access to the tens of different payment options that richer countries have to offer to their citizens, the ones that are living in developing countries, the ones that work far from their families to build a better future for their children. Today $USDt helps more than 400 million people, but 3 billion people, almost half of the world population, still do not have access to basic financial services. At Tether we’re proud to lead the change towards a more open, transparent and inclusive financial world. Facts > Words Thanks everyone <3 P.S. Happy Birthday #bitcoin