Tether Posts $1.5B Q3 Profit as Excess Reserves Reach $7.95B

Tether reported $1.5 billion in net operating profit for the third quarter of 2026, roughly flat from the prior quarter, bringing nine-month earnings to $4.5 billion. Its latest reserve attestation, prepared by BDO and covering the period ended September 30, showed total assets of $191.5 billion against liabilities of $183.5 billion. Excess reserves rose to $7.95 billion from $4.1 billion at the end of June, an increase of about $3.8 billion. Tether held $132.4 billion in direct and indirect U.S. Treasury bills, with Treasury bills and reverse repurchase agreements remaining its main income sources. USDT issuance was broadly steady at about $184 billion. Tether International, S.A. de C.V. said total liabilities included $183.47 billion tied to issued digital tokens; reported liabilities were $183.496 billion and assets $191.45 billion, leaving a buffer of about $7.95 billion. CEO Paolo Ardoino said the company generated $1.5 billion in quarterly profit while maintaining nearly $8 billion in excess reserves, adding that Tether aims to hold enough liquidity for redemptions in difficult markets and cited its financial position amid geopolitical uncertainty. BDO is identified by Tether as a top-five global independent accounting firm.