Tether International, S.A. de C.V., today published its attestation for the third quarter of 2026, prepared by BDO, a top-five global independent accounting firm. The report covers the Company’s Financial Figures and Reserves Report as of September 30, 2026, including the composition of the reserves backing USD₮.
USD₮ issuance held broadly steady at $184 billion across the first three quarters of 2026 despite market volatility. Over the same period, Tether generated $4.5 billion in net operating profit, including $1.5 billion in Q3, consistent with the previous quarter. U.S. Treasury bills and reverse repurchase agreements continued to provide most of this income.
Tether’s reserve buffer continues to strengthen, nearly doubling to $7.95 billion from $4.1 billion at the end of Q2, an increase of $3.8 billion. Total reserve assets at quarter-end were $191.5 billion, with the majority held in liquid, short-duration instruments to support redemptions across market conditions. Direct and indirect holdings of U.S. Treasury bills total $132.4 billion.
The Management of the Company asserts the following as of September 30, 2026:
- The Company’s total assets amount to US$191,451,091,374
- The Company’s total liabilities amount to US$183,496,460,904 of which US$183,469,787,261 relate to digital tokens issued
- The Company’s assets exceed its liabilities by US$7,954,630,470
“Our responsibility is to make sure USD₮ remains dependable when people need it most, including when markets and financial systems come under pressure,” said Paolo Ardoino, CEO of Tether. “Generating $1.5 billion in net operating profit while maintaining nearly $8.0 billion in excess reserves gives us a strong foundation for that work. We are building Tether for the long term, with the liquidity to meet redemptions and the financial strength to support infrastructure people can rely on amidst the chaotic geopolitical environment we live in. The purpose behind our reserve strategy is to ensure we can continue to serve people when conditions become more difficult.”
For more information, please refer to the latest Financial Figures and Reserves Report here.
