Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B

Tether's excess reserves nearly doubled to $8 billion, according to a report on its third-quarter results, which also showed a profit of $1.5 billion. The stablecoin issuer's holdings of US Treasuries are on par with those of major foreign holders, and its Bitcoin reserves were valued at $8.37 billion at the end of September. Since publication, Bitcoin has slipped 0.1%.