Stablecoin issuer Tether is reporting Q1 2026 net profit of $1.04 billion.
The earnings news was joined by its periodic attestation regarding reserves and more produced by BDO.
Notes of interest provided by Tether:
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US Treasury Exposure: Total direct and indirect exposure reached $141 billion. Tether is now the 17th largest holder of US Treasuries globally.
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Total Assets: $191.7 billion against liabilities of $183.5 billion.
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Reserve Composition: Reserves remain heavily concentrated in short-duration, high-quality liquid instruments, including $20 billion in physical gold and $7 billion in Bitcoin.
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Market Expansion: Sustained demand is said to have continued into Q2 and has already driven a further $5 billion increase in USD₮ circulation, reinforced by the launch of the self-custodial “Tether Wallet”.
Tether CEO Paolo Ardoino, CEO of Tether noted that as of April, “USD₮ continues to trade at or near all-time highs in circulation, with an increase of more than 5 billion USD₮, reflecting sustained demand into the second quarter, reinforced also by the release of the Tether Wallet, The People’s Wallet, a self-custody application built for the hundreds of millions of people in the world that use USD₮ daily as their lifeline.”
Tether stated that its investments are not part of this report. The digital asset firm has been dedicating funds to a growing number of other digital asset firms. These include:
- Anchorage Digital ($100M+): A federally chartered digital asset bank that custodies digital assets and issues USA₮ for Tether.
- Speed ($8M): A Bitcoin Lightning Network payment infrastructure firm focused on stablecoin settlements.
- KAIO ($8M): A UAE-based tokenization firm focused on bringing traditional funds onto blockchains.
- Crystal Intelligence: A blockchain intelligence firm specializing in forensics and compliance.
- Twenty One: A Bitcoin (BTC) treasury company.
- Whop: A financial technology marketplace.
- Northern Data Group: Invested in AI and high-performance computing infrastructure, which supports blockchain applications.
Diversification is key to Tether as the stablecoins marketplace heats up and other participants enter the sector.
Tether remains the single largest issuer of dollar-based stablecoins in the world. USD₮’s market cap is around $190 billion.
