Bitcoin (BTC) 
$72,362 It fell to $70,022, and the SPX decline, along with the news that Iran would retaliate, were effective in these rapid sales. Investors are worried because we have experienced such fluctuations in cryptocurrencies many times in the last 2 quarters. That’s why losses exceeding 5 percent in altcoins attract attention. Coming back to the topic, Tether announced its third quarter earnings.
Tether Earnings Report
The company has published its final report for the third quarter. As of September 30, the company’s third quarter earnings were $2.4 billion. $1.3 billion of this comes from treasury bonds and $1.1 billion comes from the rise in gold.
Total US treasury bond holdings reached $102.5 billion in the last quarter. Tether is the 18th largest bond investor, after Germany, Australia and the UAE. The reserve surplus is over 6 billion dollars. So, even if the company redeems all tokens, it has an extra $6 billion in assets.
Last report found 330 million different wallets USDT It is stated that the number of new addresses increased by an average of 35 million every quarter. That means roughly 11 million new Tether wallets are created every month. Tether officials said that 3 billion people still cannot access finance and wrote that they will continue to work to reach everyone.
Tether and Lawsuit Claims
Company officials, who announced that they are constantly cooperating with law enforcement, were extremely surprised by this week’s allegations. According to the WSJ report, the USA launched an investigation into Tether under many headings. We have previously seen that the Binance investigation was announced by the WSJ, even though some of the allegations were unfounded.
Although there are a wide variety of allegations, ranging from allegations that the USA facilitates the work of countries and individuals under sanctions to violation of anti-money laundering rules, the company stated that the authorities have not contacted them about such an investigation, lawsuit or indictment.
Mainstream media has been making various claims about Tether for years, and these claims have caused market fluctuations. The good thing compared to the past is that Tether’s reserves consist of US bonds. This means that possible heavy redemptions can be met without spoiling the peg.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
