Tether Posts $1.04 Billion 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. Its excess reserves rose to a record $8.23 billion.

The company’s assets remained concentrated in highly liquid holdings led by US Treasuries. As of the end of March, Tether held about $141 billion in US Treasuries. It also held $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 Tether is focused on maintaining liquidity so it can continue operating regardless of market conditions.