Tether (USDT) Surpasses Germany and Australia as One of the World's Top Holders of US Treasuries

Stablecoin Tether (USDT) has just released a new audit regarding the company's year-to-date performance. The audit – performed by third-party auditor “BDO” – highlighted the stablecoin's record-breaking performance in 2024.

Stablecoin giant Tether (USDT) has just unveiled its latest audit, showcasing the company’s impressive performance in the first three quarters of 2024. The audit, conducted by third-party firm BDO, highlights several key achievements and provides insight into the stablecoin’s continuous growth.

According to the audit, Tether’s net equity has more than doubled since the beginning of the year, reaching a total of $14 billion as of September 30th. This represents a substantial increase from the company’s net equity of approximately $7 billion reported on December 31st, 2023.

The audit also reveals that Tether’s total assets have now surpassed the $130 billion mark, specifically amounting to $134.4 billion at the end of Q3. This signifies an addition of nearly $40 billion in total assets over the last nine months.

Furthermore, the stablecoin’s market capitalization has also seen a notable surge, with USDT’s market cap growing by 30% year-to-date. This growth can be largely attributed to the increasing adoption and utilization of stablecoins, particularly in regions where inflationary fiat currencies have driven individuals to seek alternative stores of value.

In Argentina and Brazil, for instance, USDT has emerged as a common method for workers to protect their earnings from the depreciating local currencies. Moreover, stablecoins have had a significant impact on the U.S. Presidential election, with candidates like Donald Trump expressing their intention to integrate dollar-pegged currencies into the country’s financial system.

The latest audit also provides a detailed breakdown of Tether’s reserves, revealing that the company now holds over $105 billion in cash and cash equivalents. Notably, a vast majority of Tether’s reserves are allocated to U.S. Treasuries, with the stablecoin issuer’s exposure to the government securities amounting to $102.5 billion.

This level of investment in U.S. Treasuries places Tether in an impressive 18th position among the world’s top holders of the sovereign debt. To put it into perspective, Tether’s U.S. Treasury holdings exceed those of entire countries, including Germany, Australia, and the United Arab Emirates.

The recent growth in Tether’s reserves marks an increase of approximately $5 billion since the company’s last report. These substantial reserves not only serve to strengthen Tether's position in the crypto market but also highlight the company’s strategic financial maneuvers in the broader economy.

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