Key points to remember:
- Tether reported a profit of $1.04 billion in the first quarter of 2026, with reserves reaching an all-time high of $8.23 billion.
- Tether holds $141 billion in US Treasuries, strengthening its role in the global dollar liquidity.
- Tether expands in bitcoin ($7 billion) and gold ($20 billion) at the start of the audit process.
Tether Increases Treasury Holdings to $141 Billion as Q1 Profit Surpasses $1 Billion Milestone
Tether Holdings reported strong first-quarter results, highlighting the scale and resilience of the world’s largest group. stable coin transmitter even in the middle volatile market conditions.
According to an attestation from accounting firm BDO, Tether generated net profit of approximately $1.04 billion for the quarter ended March 31, 2026. Excess reserves reached a record $8.23 billion, strengthening the company’s buffer against liabilities related to its operations. USDT token.
The report shows total assets of approximately $191.8 billion versus liabilities of $183.5 billion, with the vast majority tied to tokens in circulation. Supply remained broadly stable during the quarter at around $183 billion, reflecting continued demand for dollar-backed digital assets.
Tether’s reserve strategy remains heavily focused on highly liquid short-term instruments. Exposure to U.S. Treasuries reached approximately $141 billion, placing the company among the largest holders of U.S. government debt securities in the world.
The composition of reserves also includes diversification towards other asset classes. Physical assets gold was around $20 billion, while bitcoin exposure was around $7 billion. These positions are designed to provide resilience during periods of macroeconomic stress, without compromising liquidity.
Importantly, Tether has stated that its proprietary investments are held separately and are not part of the collateral reserves. USDT. These investments are funded by excess capital and profits, a structure that the company believes preserves the integrity and transparency of its core reserves.
CEO Paolo Ardoino highlighted the company’s focus on reliability by maintaining a system that operates consistently through market cycles.
He declared:
“Our responsibility is to ensure USDT works without compromise. The emphasis is on maintaining a simple, liquid and resilient structure by design, so that it is not dependent on enabling environments or external support. From April, USDT continues to trade near all-time highs in circulation, reflecting sustained demand.
USDT Circulation increases to match demand
Demand for USDT appears to remain firm. The company noted that circulation continued to grow in the second quarter, with more than $5 billion in additional issuance since March. Tether also highlighted the rollout of its self-custody wallet as part of a broader initiative to expand its ecosystem.
The latest figures highlight Tether’s role as a central player in global dollar liquidity, particularly in regions where access to traditional banking services remains limited. Its reserve buffer, alone, would be among the largest stablecoins if treated as a standalone entity.
The company also confirmed that a formal audit process had begun, a long-awaited step by market participants seeking greater transparency. Tether’s first quarter performance suggests that scale, liquidity, and profitability can coexist. The key question for the industry remains whether this model will withstand future regulatory scrutiny and market developments.
