•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Tether has released its first-quarter (Q1) 2026 attestation report, audited by BDO, a “top-five” global independent accounting firm. The report outlines the company’s financial performance and reserve positioning, and describes continued momentum for the stablecoin issuer.
In the report, Tether said it generated approximately $1.04 billion in net profit. The company also stated that the scale of USDT in circulation remained broadly stable around current levels. As of March 31, Tether reported total token-related liabilities of roughly $183 billion.
A central focus of the attestation is reserve management. Tether said its reserves are primarily placed in short-duration, high-quality liquid instruments.
As of March 31, Tether reported direct and indirect exposure to US Treasury bills (T-Bills) totaling approximately $141 billion. The company said this structure makes it the 17th largest holder of US Treasuries globally.
Tether also provided details on reserve diversification beyond Treasury bills. The company reported precious metal holdings of approximately $20 billion, consisting entirely of physical gold. It also stated that its Bitcoin (BTC) holdings were approximately $7 billion.
Paolo Ardoino, Tether’s chief executive officer, said the company’s responsibility is to ensure USDT “works without compromise,” emphasizing a system designed to behave consistently across market conditions.
Ardoino also pointed to developments in USDT circulation. He said that as of April, the stablecoin continues to trade at or near all-time highs in circulation, with an increase of more than 5 billion USDT. He described this as reflecting sustained demand into the second quarter and said it is reinforced by the release of Tether Wallet, “The People’s Wallet,” a self-custody application built for the hundreds of millions of people who use USDT daily.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
