Tether Reports $1.04 Billion in First-Quarter Net Profit

Tether, the issuer of the fiat-backed stablecoin USDT, said on May 1 that its first-quarter net profit exceeded $1 billion.

According to Tether’s attestation report for the first quarter of 2026, the company posted about $1.04 billion in net profit. Excess reserves rose to a record $8.23 billion.

Its assets were concentrated in highly liquid holdings led by US Treasuries. As of the end of March, Tether held about $141 billion in US government debt, along with $20 billion in physical gold and $7 billion in Bitcoin.

Tether’s total assets stood at about $191.76774 billion, while total liabilities, including those tied to issued tokens, were about $183.53553 billion.

Chief Executive Officer Paolo Ardoino said the company is focused on maintaining liquidity to ensure Tether continues to function regardless of market conditions.