Tether has reported a remarkable $2.5 billion in profits for the third quarter of 2024, bringing its total consolidated profit for the year to $7.7 billion. This growth is attributed to a 30% increase in the circulation of its stablecoin, USDT, which now totals $120 billion. The company's reserves include over $105 billion, primarily in US Treasury bills, which have seen a significant increase in value since July. Tether's assets now total $134.4 billion against liabilities of approximately $119 billion. Notably, Tether has also made substantial profits from its gold holdings, gaining about $1.1 billion in unrealized profits in Q3. The company has strengthened its position within the market, improving collaborations with US regulatory authorities following previous scrutiny over its stablecoin backing. Tether's diverse investments span industries including renewable energy, Bitcoin mining, and artificial intelligence, showcasing its strategy of using its reserves for growth.

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