Tether posts $1.04B Q1 profit with $8.23B reserve buffer amid volatile markets.

Tether reported a $1.04 billion net profit for Q1 2026, driven by $141 billion in U.S. Treasury holdings yielding over 4%. Its total assets of $191.77 billion exceed liabilities of $183 billion, creating an $8.23 billion reserve buffer, mostly from accumulated yield rather than new capital. The reserve includes $20 billion in gold and $7 billion in Bitcoin as hedges, though these assets are more volatile. Tether has started its long-awaited full audit, but the $8.23 billion buffer remains an attested figure, not yet fully audited.