Tether posts $1.04B Q1 2026 profit, expands USD₮ circulation with new wallet launch

Tether reported a net profit of $1.04 billion in Q1 2026, driven by strong demand for its USD₮ stablecoin. The company holds $191.7 billion in assets, including $20 billion in gold and $7 billion in Bitcoin, and is the 17th largest US Treasury holder globally with $141 billion exposure. Demand continued into Q2, increasing USD₮ circulation by $5 billion, supported by the launch of the self-custodial Tether Wallet. Tether is also diversifying investments in digital asset firms to strengthen its position as the largest dollar-based stablecoin issuer with a market cap around $190 billion.