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Tether reported more than $1 billion in profit during the first quarter of 2026, while increasing its reserve buffer to approximately $8.2 billion and maintaining an overcollateralized liquidity structure.
In its quarterly disclosure, Tether said it boosted its reserve buffer to about $8.2 billion during the quarter. The company also reiterated that it maintains overcollateralization and continues to focus on short-duration, liquid assets.
The report indicated that Tether had roughly $141 billion in exposure to U.S. Treasury-backed instruments, described as the core of its reserve base. It also reported around $20 billion in gold holdings and other liquid positions.
Tether further stated that its model relies on “simple and liquid structures” intended to support operational consistency across different market conditions.
Tether said stablecoin USDT maintained strong circulation levels across global markets. It reported that supply remained at scale while demand continued into the second quarter.
The company stated that USDT circulation was near peak levels in April and that more than 5 billion tokens entered the second quarter. It attributed ongoing growth to ecosystem development and product expansion.
Tether disclosed that it holds 97,141 Bitcoin, valued at approximately $7.5 billion based on current market prices. The company said it ranks among the largest corporate Bitcoin holders based on disclosed data.
Tether stated that it began accumulating Bitcoin in 2023, using up to 15% of realized profits from stablecoin operations. It said this policy remains active as part of its broader reserve diversification strategy.
Tether also launched tether.wallet, which it said enables direct access to Bitcoin and stablecoins within a self-custody environment. The app supports gold-backed tokens such as XAUT.
The company said the wallet is designed to expand access to digital assets beyond traditional financial systems, while supporting continued demand for USDT across different regions.
Chief executive Paolo Ardoino said Tether’s focus is on reliability and consistency across environments, adding that USDT should work “without compromise.” He also emphasized that the system should function the same way under different market conditions.
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