Tether Q1 2026 Profit $1.04B, Reserves $8.23B

Stablecoin issuer Tether reported a net profit of $1.04 billion for the first quarter of 2026, pushing its excess reserves to a record $8.23 billion as of March 31, according to an attestation prepared by accounting firm BDO.

The report showed total assets of $191.77 billion against total liabilities of $183.54 billion, with $183.44 billion of those liabilities tied to issued digital tokens. Reserves remained concentrated in short-term, high-quality liquid instruments, including about $141 billion in direct and indirect exposure to U.S. Treasury bills. That figure positioned Tether as the 17th-largest holder of U.S. Treasurys globally, ahead of some sovereign nations. The company emphasized that the majority of reserves consisted of U.S. government-backed holdings and short-term liquidity facilities to support redemptions amid market volatility.

Diversification included physical gold holdings valued at around $20 billion and bitcoin worth approximately $7 billion, equivalent to over 97,000 bitcoin. Tether noted that these assets balanced liquidity with resilience in stressed conditions. Proprietary investments, managed separately through Tether Investments and funded by excess...