Tether's Q1 2026 financial report shows a net profit of $1.04 billion and record reserves of $8.23 billion, primarily backed by U.S. Treasury bonds.
Tether has announced its financial results for the first quarter of 2026, revealing a remarkable net profit of $1.04 billion, as audited by BDO.
The firm reported total assets of $191.7 billion, with liabilities standing at $183.5 billion, resulting in a surplus of reserves amounting to an unprecedented $8.23 billion.
USDT, Tether's stablecoin, is primarily supported by short-term U.S. Treasury bonds, which account for $141 billion of its backing. This positions Tether as the 17th largest holder of U.S. government debt globally.
In addition to Treasury bonds, Tether's reserves also feature:
- $20 billion in physical gold;
- Approximately $7 billion in Bitcoin.
CEO Paolo Ardoino highlighted the company's commitment to maintaining liquidity and stability in all market environments. He noted that April saw a $5 billion increase in USDT supply, following the introduction of the new non-custodial wallet, tether.wallet.
It's important to note that Tether's investments in external projects are not factored into the stablecoin's backing and are financed through accumulated profits. The firm's excess reserves are comparable to the market capitalization of the largest stablecoins in the sector.
Additionally, on April 30, Tether's investment division proposed a merger of three companies to establish a leading public entity within the Bitcoin industry.
