Tether Reports $1.5 B Q3 Operating Profit and Nearly Doubles Excess Reserves to $7.95 B

Tether announced a third‑quarter operating profit of $1.5 billion, with its excess reserves rising to $7.95 billion – almost double the $4.1 billion reported in June. At the end of September the company held $191.5 billion in assets against $183.5 billion in liabilities, leaving a reserve surplus of $7.95 billion. Assets include $132.4 billion in direct and indirect U.S. Treasury bill holdings, comparable to South Korea’s $134.2 billion exposure and exceeding the United Arab Emirates’ $116.1 billion. Over the first nine months of 2026, Tether generated $4.5 billion in net operating profit, largely driven by Treasury bills and reverse repurchase agreements. Bitcoin reserves were valued at $8.37 billion, up from about $5.8 billion at the end of June. USDT remains the largest stablecoin, representing roughly 60% of the $297.3 billion stablecoin market, and its user base has surpassed 700 million, largely in emerging markets.