Tether, the issuer of the USDT stablecoin, reported about $1.04 billion in net profit for Q1 2026 and said its excess reserves reached a record $8.23 billion. As of March 31, 2026, the company reported total assets of about $191.8 billion and total liabilities of about $183.5 billion. Tether also said it held about $141 billion in U.S. Treasuries as part of the reserves backing its liabilities.