Tether released its Q3 financial report: net operating profit reached 1.5 billion USD, and excess reserves nearly doubled to 7.95 billion USD

Tether released its financial report for the third quarter of 2026, with a net operating profit of 1.5 billion USD, remaining basically flat compared to the previous quarter. The cumulative net operating profit for the first three quarters was 4.5 billion USD, with the main sources of income still being U.S. Treasury bills and reverse repurchase agreements.

As of September 30, Tether's excess reserves increased to approximately 7.95 billion USD, nearly doubling from 4.1 billion USD at the end of the second quarter, an increase of about 3.8 billion USD. The total reserve assets at the end of the quarter were approximately 191.5 billion USD, with a total of 132.4 billion USD held directly and indirectly in U.S. Treasury bills, most of the reserves allocated to highly liquid, short-term instruments.

Tether stated that the issuance scale of USDT remained relatively stable at 184 billion USD in the first three quarters of 2026. CEO Paolo Ardoino stated that the company's reserve strategy aims to ensure liquidity to meet redemption demands even when the market and financial system are under pressure, and to enhance financial strength through excess reserves.