Tether's excess reserves nearly double to $8B on $1.5B Q3 profit

Key facts

• Tether's excess reserves nearly doubled to $7.95 billion in Q3.
• Tether reported $1.5 billion in operating profit for the third quarter.
• US Treasury holdings amounted to $132.4 billion.
• Bitcoin reserves were valued at $8.37 billion at the end of September.
• Tether's USDT accounts for about 60% of the stablecoin market.

Tether reported a third-quarter operating profit of $1.5 billion, with its excess reserves nearly doubling to $7.95 billion. The stablecoin issuer's total assets stood at $191.5 billion against $183.5 billion in liabilities by the end of September. Its holdings of US Treasury bills, both direct and indirect, amounted to $132.4 billion. This exposure is comparable to South Korea's $134.2 billion in US government debt and exceeds the United Arab Emirates' $116.1 billion. Tether's Bitcoin reserves were valued at $8.37 billion at the end of September, an increase from $5.8 billion in June. The company also generated $4.5 billion in net operating profit for the first nine months of 2026, primarily from US Treasury bills and reverse repurchase agreements.