Tether Posts $1.5B Q3 Profit as Reserve Buffer Nearly Doubles to $8B

Tether reported $1.5 billion in net operating profit for the third quarter of 2026 in an attestation published Friday, matching its second-quarter result and bringing nine-month profit to $4.5 billion. The stablecoin issuer’s reserve buffer, or excess reserves held above liabilities, rose to almost $8 billion on September 30 from $4.1 billion at the previous quarter’s end, an increase of about $3.8 billion. Total reserve assets were $191.5 billion against liabilities of roughly $183.5 billion, including $132.4 billion in direct and indirect U.S. Treasury bills. USDT issuance was broadly stable at around $184 billion over the first nine months, and the attestation was prepared by BDO.