Tether’s Bitcoin Reserves Reach $8.37B in Q3 Report
Tether’s excess reserves nearly doubled to $7.95 billion as of the end of September, according to its latest attestion by independent accounting firm BDO. This follows a $1.5 billion third-quarter operating profit.
The company's assets, including $132.4 billion in direct and indirect US Treasury bill holdings, were valued at $191.5 billion, leaving a reserve surplus of $7.95 billion. This surplus is comparable to South Korea’s $134.2 billion in US government debt.
Tether also reported a $4.5 billion net operating profit during the first nine months of 2026, driven by US Treasury bills and reverse repurchase agreements. Its Bitcoin reserves were valued at $8.37 billion, up from approximately $5.8 billion in June.
Tether’s USDT remains the world’s largest stablecoin, accounting for around 60% of the $297.3 billion stablecoin market.
Stablecoin Industry
The stablecoin issuer has faced scrutiny over its reserve transparency. In August, they announced the completion of their first full independent financial statement audit by KPMG US, though the audited statements were not made public.