Accumulated net operating profit for the first three quarters reached $4.5 billion, while excess reserves nearly doubled from the previous quarter.
Tether, the issuer of the dollar-pegged stablecoin USDT, said in an official announcement on the 30th that its net operating profit for the third quarter of 2026 reached $1.5 billion. Cumulative net operating profit for the first three quarters of this year totaled $4.5 billion.
The reserve attestation report by accounting firm BDO, released by Tether, covered financial figures as of September 30 and the composition of USDT’s reserve assets. During the first three quarters of this year, the amount of USDT in circulation remained at approximately $184 billion.
At the end of the quarter, total reserve assets stood at approximately $191.45109 billion, while total liabilities were approximately $183.49646 billion. Of this amount, liabilities related to issued digital tokens totaled approximately $183.46979 billion.
Excess reserves, calculated by subtracting liabilities from assets, totaled approximately $7.95463 billion. This was nearly double the $4.1 billion recorded at the end of the second quarter.
Tether’s direct and indirect holdings of U.S. short-term Treasury securities amounted to $132.4 billion. Tether said U.S. short-term Treasuries and reverse repurchase agreement transactions were the main sources of its net operating profit.
Sources
- Tether.io