Briefly
- Tether reported $1.04 billion in Q1 2026 revenue.
- The USDT issuer mentioned it has additionally grown its reserve buffer to a file $8.23 billion.
- The corporate claims it holds $141 billion in U.S. Treasuries, although these figures haven’t but been absolutely audited.
Tether reported greater than $1 billion in revenue for the primary quarter of 2026, towards a backdrop of broader crypto market volatility, the corporate introduced Friday.
The world’s prime stablecoin issuer mentioned web revenue reached roughly $1.04 billion for the quarter. The corporate additionally reported that its buffer between the entire worth of its stablecoins in circulation, and the quantity of reserves it has readily available to again these property, has grown to an all-time excessive of $8.23 billion.
Tether’s Q1 figures weren’t verified by a Massive 4 accounting agency, however as an alternative by an Italian service that depends on firm attestations. In March, Tether tapped KPMG for its first-ever full audit, per a Monetary Instances report, which comes because the El Salvador-based issuer seeks to broaden its footprint in the USA.
The corporate mentioned Friday that the audit commenced throughout 2026’s first fiscal quarter.
Of the almost $192 billion in reserve property Tether says it holds, the overwhelming majority—roughly $141 billion—declare to be held in U.S. Treasuries. The corporate mentioned Friday this positions it as one of many largest holders of U.S. authorities debt globally.
Past Treasuries, the agency reported holding roughly $20 billion in bodily gold and about $7 billion in Bitcoin.
Tether’s Q1 2026 earnings roughly match final 12 months’s, however pale compared to 2024, when the corporate reported a file revenue of $4.52 billion, thanks largely to a surge within the value of Bitcoin and gold.
Whereas the crypto market has seen important volatility within the final a number of months, the final 12 months has additionally seen main inroads for Tether in the USA, the place the corporate has loved the formal legalization of stablecoin issuance and launched a token tailor-made to new U.S. laws.
However that prominence has additionally include further scrutiny. On Thursday, two U.S. senators despatched a letter to U.S. Commerce Secretary Howard Lutnick, questioning the Trump administration official about his intimate ties to the offshore stablecoin big.
Day by day Debrief Publication
Begin on daily basis with the highest information tales proper now, plus authentic options, a podcast, movies and extra.