Tether CEO Paolo Ardoino said the company holds about 150,000 bitcoin worth roughly $11.5 billion, 50,000 coins more than its latest reserve attestation implies. The third-quarter attestation, verified by BDO, listed about 100,060 bitcoin, with most of the quarter’s increase coming from bitcoin’s price rather than purchases. Tether has said investments made with its profits are kept separate from the reserves backing USDT, which could partly explain the gap, but the company did not specify when or how the additional 50,000 bitcoin were acquired. As of September 30, Tether reported $191.45 billion in reserve assets against $183.50 billion in liabilities, including $132.4 billion in Treasury bills. Following its first independent audit by KPMG, Tether said USDT had more than 730 million users and was adding about 30 million wallets per quarter.
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