(AsiaGameHub) –   Tether announced a net profit of $1.04 billion for the first quarter of 2026, according to a May 1 attestation prepared by accounting firm BDO. The report also revealed a record reserve buffer of $8.23 billion.

Good to Know

• Tether’s US Treasury holdings amount to roughly $141 billion.
• The Q1 2026 attestation indicated a net profit of $1.04 billion.
• Tether disclosed $8.23 billion in excess reserves supporting USDT.

US Treasuries Continue to Fuel Tether’s Profits

Most of Tether’s revenue comes from the reserves backing USDT, the dollar-pegged stablecoin used across crypto markets. These reserves are primarily held in US Treasury bills—short-term debt instruments issued by the U.S. government.

The latest attestation revealed $141 billion in US Treasury holdings. With Treasury bill rates above 4%, this position can generate approximately $4 billion in annual interest income, which helped drive the $1.04 billion Q1 profit figure.

The reserve buffer also expanded. Tether stated that excess reserves reached $8.23 billion, providing USDT with extra backing beyond the value of issued tokens. For stablecoin users, this buffer is one of the key metrics to monitor, as it shows how much leeway Tether has above basic reserve coverage.

CEO Paolo Ardoino framed the update around reliability. He said: “Our responsibility is to ensure USDT functions without compromise. That means building a system that behaves consistently in any market condition, not just when things are stable.”

The May 1 BDO attestation was also described as Tether’s most detailed financial disclosure to date. This added level of detail comes as stablecoins continue to draw attention from regulators, crypto traders, and traditional finance firms.