Finance
What to know, dear reader:
- Tether, that most enterprising of crypto firms, has augmented its Bitcoin reserves by a most considerable sum-8,889 coins, or $1 billion, no less! Its coffers now boast a total of $9.7 billion, as blockchain data so obligingly reveals. 🤑
- The supply of Tether’s USDT stablecoin, that darling of the digital realm, has swelled to a staggering $175 billion, a 10.7% increase in the last quarter alone. How it grows, like a well-tended rose in a gentleman’s garden! 🌹
- Tether has deigned to grace the U.S. market with its presence, launching a new stablecoin, USAT, under the watchful eye of federal regulators. How very proper! 👀
Tether, the mastermind behind the USDT stablecoin, has seen fit to add $1 billion in Bitcoin to its reserves, bringing its total holdings to a most impressive $9.7 billion. All this as its flagship stablecoin’s supply approaches the dizzying sum of $175 billion. Whatever will they think of next? 🤔
Blockchain data from Arkham Intelligence informs us that the address labeled “Tether: Bitcoin Reserves” received 8,889 BTC from Bitfinex, that crypto exchange so intimately connected with Tether. The address now holds $9.7 billion in BTC, based on the current price of approximately $113,000 per coin. How the numbers dance! 💃
This latest maneuver is but a continuation of Tether’s penchant for accumulating Bitcoin, alongside gold, at the end of each quarter. How punctual! Similar transactions occurred in March, December, and September, according to Arkham’s data. In June, the firm bestowed over 1.4 billion in BTC upon Twenty One Capital (XXI), led by the dashing Jack Mallers of Strike, with Tether as a lead investor. Tether’s CEO, Paolo Ardoino, was quick to dismiss rumors of selling BTC for gold-how very undignified that would be! 🙅♂️
Tether reported $8.9 billion in BTC reserves as of the end of June, per its second-quarter attestation. The next report, expected in late October, shall reveal its updated holdings. Until then, we can only speculate and sip our tea. ☕
Meanwhile, Tether’s USDT token has grown to a $174.6 billion supply, a 10.7% increase this quarter, as CoinGecko data shows. It continues to reign supreme in the stablecoin sector, a true queen among its peers. 👸 The firm, once content to serve emerging markets with limited access to the U.S. dollar, has now turned its gaze to the domestic market, establishing a local branch led by the former White House crypto advisor Bo Hines. How very ambitious! They’ve also developed a separate stablecoin, USAT, under federal regulatory guidelines. How very… compliant. 📜
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2025-09-30 17:26