Tether Q3 Net Operating Profit Reaches $1.5B, Excess Reserves Grow to Nearly $8B

October 31 — Tether has published its Q3 2026 financial data and reserves attestation report, prepared by BDO, one of the world's top five accounting firms. As of September 30, Tether's total assets stood at approximately $191.5 billion and total liabilities at about $183.5 billion, with assets exceeding liabilities by roughly $7.955 billion, nearly double the $4.1 billion at the end of the second quarter.

In the first three quarters of 2026, Tether's cumulative net operating profit reached $4.5 billion, including $1.5 billion in Q3, unchanged from Q2, with U.S. Treasuries and reverse repurchase agreements as the main sources of revenue. At the end of Q3, Tether's direct and indirect exposure to U.S. Treasuries totaled $132.4 billion. Over the same period, USDT issuance remained broadly stable at approximately $184 billion.