Tether has released its financial report for the first quarter of 2026, audited by BDO. The net profit of the stablecoin issuer amounted to $1.04 billion.
The company’s total assets reached $191.7 billion, with liabilities at $183.5 billion. Excess reserves grew to a record $8.23 billion.
The primary backing for USDT consists of short-term U.S. Treasury bills, which have reached $141 billion. In this regard, Tether ranks 17th among the largest holders of U.S. government debt globally.
In addition to bonds, the reserves include:
- physical gold worth $20 billion;
- bitcoins amounting to approximately $7 billion.
Tether’s CEO, Paolo Ardoino, noted that the company focuses on liquidity and system resilience under any market conditions. He stated that in April, the supply of USDT increased by another $5 billion, coinciding with the launch of the non-custodial wallet tether.wallet.
Tether’s own investments in external projects are not included in the backing of the “stablecoin” and are financed from accumulated profits. The volume of the company’s excess reserves is comparable to the market capitalization of the largest stablecoins.
On April 30, Tether’s investment arm proposed merging three companies to create a leading public entity in the Bitcoin industry.