Paolo Ardoino, CEO of Tether, announced on X today, Friday, October 30, 2026, that the company achieved approximately $1.5 billion in net operating profit for the third quarter of 2026. Ardoino stated, "Tether just released its quarterly USDT attestation for Q3 2026. Tether had a great third quarter of 2026, with ~1.5B in net operating profit. Tether’s reserve buffer continued to strengthen, nearly doubling to $7.95 billion from $4.1 billion at the end of Q2, an increase of $3.8 billion." He also noted that total issued USDT reached approximately 183.5 billion by the end of Q3 2026, with excess reserves of about $7.95 billion.
The announcement follows recent events where Tether, alongside Circle, reportedly froze $1.79 billion in stablecoins after significant outflows from Binance, which was simultaneously hit by an apparent hack. Gokhshtein Media recently reported on Tether moving 180 million USDT to Bitfinex, a move that boosted exchange liquidity. The stablecoin sector continues to draw attention during broader discussions on digital asset regulation and market stability.
Ardoino's report implies a robust financial position for Tether, with substantial excess reserves beyond the 100% backing of issued tokens. This financial strength, coupled with deep liquidity, positions the company to meet redemptions of any size, a crucial aspect for stablecoin stability in a volatile geopolitical environment. The reported growth in user base to over 700 million suggests continued global adoption of USDT for financial inclusion.
