Tether reports $1.5 billion third-quarter profit as reserves rise
The stablecoin issuer reported a $7.95 billion reserve surplus at September-end, nearly double its June level.
Key takeaways
- Tether reported $1.5 billion in third-quarter operating profit.
- Its reserve surplus reached $7.95 billion at the end of September.
- Tether held $132.4 billion in direct and indirect US Treasury bills.
Tether reported $1.5 billion in third-quarter operating profit, while its excess reserves nearly doubled to $7.95 billion by the end of September. The figures accompanied its latest attestation, prepared by accounting firm BDO.
At September-end, Tether held $191.5 billion in assets against $183.5 billion in liabilities. Its assets included $132.4 billion in direct and indirect US Treasury bills.
For the first nine months of 2026, the company reported $4.5 billion in net operating profit. Tether said income was largely driven by Treasury bills and reverse repurchase agreements.
Tether’s Bitcoin reserves were valued at $8.37 billion, up from about $5.8 billion at the end of June. Its USDT stablecoin accounted for around 60% of the $297.3 billion stablecoin market, according to DefiLlama data.
On Friday, CEO Paolo Ardoino said on X that USDT’s user base had passed 700 million, with adoption concentrated in emerging markets. Tether announced in August that it had completed its first full independent financial statement audit by KPMG US, but the audited statements were not made public.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
