Tether reported a $1.04 billion net profit for the first quarter, while its excess reserves reached a record $8.23 billion amid growing global demand for the USDT stablecoin.

Key Points

• Tether’s total assets reached nearly $192 billion against $183.5 billion in liabilities as of March 31.
• The company holds approximately $20 billion in physical gold and $7 billion in bitcoin within its reserve portfolio.
• Most of the firm's reserves are invested in U.S. government-backed instruments, making Tether a top 10 global holder of U.S. Treasuries.
• Excess reserves grew from $6.3 billion at the end of 2025, driven by consistent profitability and high-quality liquid assets.

Why it Matters

• Tether’s financial performance highlights the increasing institutional reliance on stablecoins for international payments and cross-border settlements. As major financial entities like Visa expand stablecoin integration, the stability and transparency of these reserves become critical to broader market confidence.