Tether posts $1.5 billion Q3 profit as reserve buffer nearly doubles

The stablecoin issuer's BDO attestation shows excess reserves rebounding to about $7.95 billion while USDT issuance held at $184 billion Tether made $1.5 billion in the third quarter of 2026. It also rebuilt its safety cushion after a summer in which that cushion got noticeably thinner. The stablecoin issuer published its Q3 attestation this week, prepared by accounting firm BDO. It shows excess reserves of nearly $8 billion as of September 30, 2026. That is close to double the buffer Tether reported at the end of June. What the Q3 attestation shows The report covers Tether’s financial figures and reserves as of September 30, 2026. It includes a breakdown of the assets backing USDT. BDO, a top-five global independent accounting firm, prepared it under the ISAE 3000R standard. Here are the key figures from the filing: Net operating profit: $1.5 billion for Q3 2026, bringing cumulative profit for the first three quarters to $4.5 billion. Excess reserves: approximately $7.95 billion, up from $4.1 billion at June 30, 2026. Total reserve assets: approximately $191.5 billion, including $132.4 billion in US Treasury holdings. USDT issuance: broadly steady at $184 billion across the first ...