Tether CEO confirms 150,000 Bitcoin holdings amid record profits

The company’s latest financial attestation, prepared by BDO, highlights a robust fiscal position with total reserve assets reaching $191.45 billion against liabilities of roughly $183.50 billion. Excess reserves climbed to $7.95 billion by the end of September, up from $4.1 billion in June. Net operating profit for the third quarter hit $1.5 billion, pushing the year-to-date total to $4.5 billion. Beyond its Bitcoin stash—valued at $8.37 billion in the Q3 report—Tether maintains significant exposure to government debt, holding $132.4 billion in U.S. Treasury bills and reverse repurchase agreements, alongside $19.08 billion in gold.

Building on this financial foundation, Ardoino introduced the Independence Stack, a technological initiative aimed at developing decentralized tools for energy, communication, and artificial intelligence. The project draws inspiration from Isaac Asimov’s Foundation, focusing on infrastructure that functions independently of centralized providers. Current efforts include deploying solar-powered battery kiosks across Africa and launching an open-source Mining Development Kit with support from industry players like Bitmain and Canaan. Tether is also expanding into personal AI, having recently released an offline speech recognition model, with plans to develop further tools for translation and medical assistance.