Tether Q3 2026: Profit surges, reserves boosted by bitcoin

6.6 Stablecoins

Oct 31, 2026

Tether’s Q3 2026 profit reached $1.5B, with reserves nearly doubling to $7.95B, driven by bitcoin and gold gains. Total assets hit $191.5B, liabilities $183.5B, and USDT issuance stayed stable.

Tether reported a net operating profit of $1.5 billion for the third quarter of 2026, raising its total profit for the first nine months to $4.5 billion. The company’s reserve buffer nearly doubled, growing from $4.1 billion at the end of Q2 to $7.95 billion by the end of Q3. This growth was mainly driven by a sharp recovery in bitcoin prices, which contributed approximately $2.6 billion to Tether’s reserves, and a rise in gold prices, adding around $700 million. As of September 30, Tether’s total assets stood at $191.5 billion, while liabilities were $183.5 billion, mostly linked to USDT in circulation. The majority of reserves are held in highly liquid, short-term instruments, including $132.4 billion in U.S. Treasury bills. The BDO-prepared attestation covers balances as of September 30 and notes that the reserve buffer, though significant, is still below the value of bitcoin held in reserves. The report highlights Tether’s commitment to transparency and USDT stability, but clarifies this is an attestation, not a full audit.