Tether posted over $1 billion in profit in the first quarter of 2026 and increased its reserve buffer to approximately $8.2 billion, even amid turbulent global conditions, according to the company’s BDO-attested Q1 2026 report.

The report showed total assets of approximately $192 billion compared to liabilities of almost $184 billion, indicating continued overcollateralization, with USDT supply holding steady at scale. Tether continues to prioritize highly liquid, short-duration assets in its reserve structure.

Reserves are heavily weighted toward short-term U.S. government-backed assets, with roughly $141 billion in Treasury exposure, making Tether one of the largest holders worldwide. The portfolio also includes about $20 billion in gold and 97,141 Bitcoin, now valued at around $7.5 billion, ranking Tether as the second-largest corporate Bitcoin holder after Strategy on a theoretical basis.

The company began accumulating Bitcoin in 2023 under a policy allocating up to 15% of realized profits from its stablecoin operations.

Tether said its performance demonstrated the durability of its model, strong profits and liquidity supporting its role as a core infrastructure for digital dollar usage.

USDT demand remains strong heading into the second quarter, supported by continued ecosystem development and growing adoption in markets operating beyond traditional financial systems.

“Our responsibility is to make sure USDT works without compromise,” Tether CEO Paolo Ardoino said in a statement. “That means building a system that behaves the same way in any market condition, not just when things are stable. The focus is on keeping the structure simple, liquid, and resilient by design, so it does not depend on favorable environments or external support. People should not have to question whether the system works; it just has to work.”

Tether has launched tether.wallet, a self-custodial app enabling direct access to Bitcoin, stablecoins like USDT and USAT, and gold-backed tokens such as XAUT. The product aims to simplify digital asset usage and expand financial access for users outside traditional banking systems.

Ardoino said the wallet’s rollout supports continued strength in USDT circulation, which remained near all-time highs in April and increased by more than 5 billion tokens into the second quarter.