Tether reports $1.5 billion Q3 operating profit as reserve buffer expands to $7.95 billion
Tether generated $1.5 billion in net operating profit in the third quarter of 2026, lifting its nine-month earnings to $4.5 billion as its excess reserve buffer nearly doubled to $7.95 billion.
Stablecoin issuer Tether posted $1.5 billion in net operating profit for the third quarter of 2026, matching its second-quarter performance and bringing its total net operating profit for the first nine months of the year to $4.5 billion. The figures were published in Tether's third-quarter reserve attestation prepared by accounting firm BDO.[1][2][4][6]
Tether's excess reserve buffer nearly doubled over the quarter, rebounding from $4.1 billion at the end of June to $7.95 billion as of Sept. 30, 2026. Management figures affirmed total assets of $191,451,091,374 against total liabilities of $183,496,460,904, of which $183,469,787,261 accounted for digital tokens issued.[4][5][6]
Direct and indirect U.S. Treasury bill holdings reached $132.4 billion, which matches BDO's breakdown of $122.84 billion in direct Treasury bills and $9.52 billion in overnight reverse repos. In addition to yields from Treasury bills and repos, Tether's reserve recovery was buoyed by market gains in its non-fiat holdings, including Bitcoin reserves that stood at $8.37 billion at the end of September.[2][3][4][6][7]
Addressing the attestation, Tether CEO Paolo Ardoino stated that the company's responsibility is to ensure USD₮ remains dependable when users need it most, particularly during periods of stress in markets and financial systems.[2][6]
Key facts
- Tether reported $1.5 billion in net operating profit for Q3 2026, matching Q2 results and reaching $4.5 billion for the first nine months of the year.
- Tether's excess reserve buffer expanded from $4.1 billion at the end of Q2 to $7.95 billion as of Sept. 30, 2026.
- As of Sept. 30, 2026, Tether held $191,451,091,374 in total assets against $183,496,460,904 in liabilities, with $183,469,787,261 tied to issued digital tokens.
- Tether held $132.4 billion in direct and indirect U.S. Treasury bills, composed of $122.84 billion in Treasury bills and $9.52 billion in overnight reverse repos.
- Tether's Bitcoin reserve holdings were valued at $8.37 billion at the end of September 2026.
- The third-quarter reserve attestation report was reviewed and prepared by accounting firm BDO.
Sources · 7 sources
- CO
CoinMarketCap@CoinMarketCapPost on X ·
LATEST: ⚡️ Tether generated $1.5B in Q3 net operating profit, matching Q2, as its reserve buffer nearly doubled to $7.95B. https://t.co/ggWjRZKpOj
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Tether generated $1.5 billion in Q3 net operating profit, bringing its nine-month total to $4.5 billion. Its reserve buffer nearly doubled quarter over quarter to $7.95 billion, while direct and indirect U.S. Treasury holdings reached $132.4 billion. "Our responsibility is to make sure USD₮ remains dependable when people need it most, including when markets and financial systems come under pressure," CEO Paolo Ardoino said in the firm's latest attestation report released on Friday.
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 BIG: Tether's Bitcoin reserves hit $8.37B at the end of September, while its excess reserves nearly doubled to $7.95B on $1.5B in Q3 profit. https://t.co/XEfDdJuB6M
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Tether Reports $1.5B in Q3 Operating Profit as Excess Reserves Nearly Double to $7.95B Tether released its Q3 2026 reserve attestation prepared by BDO, reporting $1.5 billion in net operating profit for the quarter, roughly flat quarter-over-quarter, and $4.5 billion for the first nine months, primarily driven by U.S. Treasury bills and reverse repos. As of September 30, USDT issuance stood at approximately $184 billion, with total reserve assets of $191.5 billion and liabilities of $183.5 billion. Excess reserves nearly doubled from $4.1 billion at the end of Q2 to $7.95 billion, while direct and indirect U.S. Treasury bill holdings totaled $132.4 billion.
Open source - DE
Decrypt@DecryptMediaPost on X ·
Tether Posts $1.5B Q3 Operating Profit as Its Reserve Buffer Nearly Doubles. Tether's third-quarter attestation, prepared by BDO, shows $1.5 billion in net operating profit and $191.5 billion in reserve assets, with its reserve buffer rising to $7.95 billion from $4.1 billion at the end of Q2.
Open source - UN
UnchainedArticle ·
Bitcoin’s Rebound Drove Most of Tether’s $3.8 Billion Reserve Recovery Tether held $7.95 billion more in reserves than it owed USDT holders on Sept. 30, up about $3.85 billion from the end of June, the stablecoin issuer said in its third-quarter attestation on Friday. The report , reviewed by accounting firm BDO, puts total assets at $191.45 billion against $183.5 billion in liabilities, nearly all of it tokens in circulation. Tether said USDT issuance has held near $184 billion so far this year. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Bitcoin Did Most of the Work Tether didn’t explain the jump. The three reserve reports Tether has filed this year show the answer sits mostly in two lines: bitcoin and gold. The bitcoin price used to value Tether’s holdings rose 42.6% over the quarter, to $83,621 from $58,642. At roughly 98,900 BTC, about the amount Tether held in June, that move alone adds about $2.47 billion , by Unchained’s calculation. A 3.7% rise in the gold price, to $4,157.41 an ounce, adds roughly $700 million. The gold line implies Tether held about 3.4 fewer tonnes than in June, though the report doesn’t say whether any metal was sold. Bitcoin and gold were also behind the second-quarter drop. Tether’s excess reserves fell by half to $4.11 billion in the second quarter, when gold slid about 14% to $4,008 and bitcoin fell about 14% to $58,642. By our count, the gold price drop cost about $2.8 billion even though Tether added some 14 tonnes, and the bitcoin drop cost about $930 million. At $7.95 billion, the buffer remains about $278 million below the $8.23 billion Tether reported for the end of March. Profit and Treasurys Tether said it earned $1.5 billion in net operating profit in the quarter and $4.5 billion over the first nine months, mostly from Treasury bills and reverse repos. That measure isn’t a line in the BDO report, which puts the nine-month financial result at $1.66 billion; the two numbers aren’t reconciled. Tether put its direct and indirect Treasury bill holdings at $132.4 billion, which matches BDO’s $122.84 billion Treasury bill line plus $9.52 billion of overnight reverse repos, a category that roughly halved during the quarter. The report also restates Tether’s equity at the end of 2025 to $6.81 billion, matching the KPMG-audited accounts the company said it received in August. CEO Paolo Ardoino said in the release that the quarter’s profit and excess reserves give the company “a strong foundation for that work,” referring to keeping USDT reliable under market stress. BDO’s opinion covers balances on Sept. 30 only. Related Listen: Tether Freezes Stolen Funds. Circle Doesn’t. Why? The post Bitcoin’s Rebound Drove Most of Tether’s $3.8 Billion Reserve Recovery appeared first on Unchained .
Open source - CT
Coin TelegraphArticle ·
Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the end of September.
Open source