Tether has launched its first-quarter (Q1) 2026 attestation report, audited by BDO, a “top-five” international impartial accounting agency. The report highlights what the corporate describes as continued momentum for the stablecoin issuer, together with main monetary figures and particulars on its reserve positioning.
Inside Tether’s Reserves
Within the report, Tether stated it generated roughly $1.04 billion in web revenue. It additionally said that the size of USDT in circulation remained broadly steady round present ranges. As of March 31 of this yr, the corporate reported complete token-related liabilities of roughly $183 billion.
A central a part of the attestation focuses on reserve administration. Tether stated its reserves are primarily positioned in short-duration, high-quality liquid devices.
Based on the report, as of March 31, direct and oblique publicity to US Treasury payments (T-Payments) totaled roughly $141 billion. Notably, Tether stated this construction makes it the seventeenth largest holder of US Treasuries globally.
The crypto big additionally offered extra info on reserve diversification past Treasuries payments. The corporate reported that treasured metallic holdings quantity to roughly $20 billion and consist totally of bodily gold.
It additional said that Bitcoin (BTC) holdings have been roughly $7 billion. Tether framed this combine as a steadiness between conserving reserves liquid and resilient, whereas nonetheless sustaining some publicity to macro property which will maintain up during times of market stress.
USDT At All-Time Excessive Circulation In April
Paolo Ardoino, Tether’s chief government officer, commented on the corporate’s method within the report. “Our duty is to verify USDT works with out compromise,” he stated. “Which means constructing a system that behaves the identical method in any market situation, not simply when issues are steady.
The chief additionally added, “The main focus is on conserving the construction easy, liquid, and resilient by design, so it doesn’t depend upon favorable environments or exterior assist. Individuals shouldn’t need to query whether or not the system works; it simply has to work.”
Ardoino additionally pointed to current developments in USDT circulation. He famous that as of April, the stablecoin continues to commerce at or close to all-time highs in circulation, with a rise of greater than 5 billion USDT.
He described this as reflecting sustained demand into the second quarter. The CEO added that this demand is bolstered by the discharge of the Tether Pockets, “The Individuals’s Pockets,” which is a self-custody utility constructed for the lots of of thousands and thousands of people that use USDT each day as a lifeline.
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