TL;DR
- Tether added 8,889 BTC in a transfer from Bitfinex, boosting its Bitcoin reserves to about $9.8 billion at market value.
- The pattern of quarter-end purchases helps reinforce its balance sheets before attestations; the October report will confirm if they are already included.
- The company is strengthening its U.S. presence with a subsidiary led by Bo Hines and preparing USAT, a stablecoin designed to comply with federal frameworks.
Tether added nearly $1 billion in Bitcoin after receiving 8,889 BTC in a single transfer from Bitfinex, raising its BTC reserves to around $9.8 billion based on current market prices.
It was one of the company’s largest individual Bitcoin acquisitions this year and reinforces its position as the stablecoin issuer with the largest exposure to Bitcoin.
Blockchain records show Tether has followed a quarter-end acquisition pattern, with similar purchases in September and December 2024, and March 2025. Analysts note this behavior points to a strategy of strengthening balance sheets ahead of quarterly reserve attestations. In its second-quarter report, Tether disclosed nearly $9 billion in Bitcoin, making the upcoming report, expected at the end of October, crucial to confirm whether the latest purchases are officially recorded.
The close link with Bitfinex surfaced again, as the 8,889 BTC transfer originated directly from the exchange. This relationship has long been questioned due to the size of the transactions and the concentration of activity between the two entities.
In June, Tether also moved roughly $1.4 billion worth of BTC to Twenty One Capital, run by Jack Mallers. The transfer sparked speculation about a diversification into other assets such as gold, but CEO Paolo Ardoino denied that possibility and insisted that Bitcoin will remain the core of the company’s reserve strategy.
Tether Speeds Up Its U.S. Expansion
At the same time, Tether is accelerating its U.S. expansion campaign. The company has established a domestic subsidiary led by Bo Hines, a former White House advisor on crypto policy, and is preparing to launch a stablecoin called USAT, designed to comply with federal regulatory frameworks. The plan is to strengthen its foothold in the U.S. market without altering the group’s global structure.
The growth of USDT highlights the scale the company has reached. Its circulating supply is around $175 billion, a 10% increase in the past quarter, confirming its central role as a liquidity benchmark in markets and DeFi applications. However, questions remain about the transparency of reserves and the consistency between public reports and blockchain records. The next quarterly report will be key to resolving those doubts and determining the level of confidence in Tether’s management.
