- Tether posts $1B+ Q1 profit as USDT use surges to 570M users amid global market uncertainty.
- BDO confirms $1.04B profit and $8.23B reserve buffer as Tether strengthens balance sheet position.
- Tether expands reserves with $141B in Treasuries while scrutiny over transparency continues globally.
Tether reported more than $1 billion in net profit for Q1 2026 as USDT adoption expanded across emerging markets, according to CEO Paolo Ardoino on X. The stablecoin issuer said its user base rose to 570 million, a new record, during a period of global economic and geopolitical uncertainty.
Ardoino said, “Tether had a great start of the year, with more than 1B in net profits.” He added that about 67 billion USDT is now held as savings worldwide. The figures point to rising use of digital dollars outside traditional banking systems, especially in developing regions.
Profit Growth and Expanding Reserve Strength
The most recent audit of Tether conducted by BDO found that Tether had $1.04 billion in profits in the quarter ending March 31, 2026, with an excess reserve buffer of $8.23 billion.
As per the report, Tether had $191.7 billion in assets versus $183.5 billion in liabilities. The amount of USDT in circulation remained at $183 billion throughout the quarter.
At the same time, Tether kept increasing its reserve base, keeping the reserves in highly liquid assets.
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Treasury Exposure and Strategic Diversification
Tether increased its exposure to U.S. government debt, holding about $141 billion in Treasuries through direct and indirect positions. This scale puts the company among the world’s largest holders of U.S. government securities and strengthens its role in global dollar liquidity flows.
The firm also diversified reserves into other assets, including roughly $20 billion in physical gold and about $7 billion in Bitcoin. These holdings sit alongside its core liquid portfolio. The company said proprietary investments remain separate from assets backing USDT.
The attestation arrives amid intensifying political scrutiny. U.S. Senators Elizabeth Warren and Ron Wyden opened another investigation into the firm’s financial relationships, including links involving Cantor Fitzgerald and Commerce Secretary Howard Lutnick’s family trust.
Tether also confirmed earlier that its audit process has formally begun. However, the company still relies on quarterly attestations rather than a full independent audit. Concerns over transparency remain even as reserves grow and USDT demand continues to rise globally.
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