Tether CEO Paolo Ardoino said the company holds around 150,000 Bitcoin worth roughly $11.5 billion. Tether’s third-quarter reserve attestation, covering assets backing USDT, lists only about 100,060 Bitcoin, nearly 50,000 coins fewer than Ardoino’s figure and worth close to $3.8 billion. Ardoino did not disclose where the additional Bitcoin is held or when it was acquired, while Tether says its corporate investments are separate from the reserves backing USDT. The company reported $1.5 billion in net operating profit for the third quarter and had $191.45 billion in assets against $183.50 billion in liabilities, leaving a $7.95 billion excess cushion.
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