Tether, the world’s largest stablecoin issuer, reported a net profit exceeding $1.04 billion for the first quarter of 2026. The company’s excess reserve buffer reached a record $8.23 billion, with its assets, including significant holdings of U.S. Treasuries and Bitcoin, firmly backing its liabilities. CEO Paolo Ardoino emphasized the company’s focus on maintaining a stable and resilient system regardless of market conditions.
Tether has released its Q1 2026 attestation report, confirming a net profit above $1.04 billion despite volatile markets. The report, prepared by accounting firm BDO, verifies the accuracy of the company’s financial figures and reserves.
The stablecoin issuer’s excess reserve buffer hit an all-time high of $8.23 billion, concentrated in short-duration, liquid instruments. By March 31, Tether’s exposure to U.S. Treasury bills reached $141 billion, positioning it as a major global holder.
Reserves also include $20 billion in physical gold and $7 billion in bitcoin. Overall, the company held over $191.7 billion in assets against $183.5 billion in liabilities.
In a statement, Tether’s CEO, Paolo Ardoino, said, “Our responsibility is to make sure USD₮ works without compromise.” He added that the focus is on building a system that performs reliably in any market environment.
The circulating supply of USDT grew by $5 billion in the second quarter. The company stated that its proprietary investments are fully segregated from USDT reserves and do not affect their quality or liquidity.
