Tether has released its certification report for the first quarter (Q1) of 2026, which was reviewed by BDO, a “top five” independent global accounting firm. The report highlights what the company describes as the stablecoin issuer’s ongoing momentum, including key financial numbers and details of its reserve position.
Inside Tether reserves
in a reportTether said it had net profits of about $1.04 billion. He also stated that USDT trading volume has remained broadly stable around current levels. As of March 31 of this year, the company reported total token-related liabilities of approximately $183 billion.
The central part of the certificate focuses on reserves management. Tether said its reserves are primarily placed in short-term, high-quality liquid instruments.
According to the report, as of March 31, direct and indirect exposure to the United States Treasury bills (Treasury bills) totaling about $141 billion. Notably, Tether said that this structure makes it the 17th largest US Treasury bond globally.
The cryptocurrency giant also provided additional information about diversifying reserves beyond Treasuries. The company stated that its precious metals holdings amount to approximately $20 billion and consist entirely of physical gold.
She also stated that Bitcoin (BTC) holdings. It was about $7 billion. Tether framed this mix as a balance between keeping reserves liquid and resilient, while maintaining some exposure to macro assets that may hold up during periods of market stress.
USDT is at its highest trading ever in April
Paolo Ardoino, CEO of Tether, commented on the company’s approach in the report. “Our responsibility is to ensure that USDT works without any compromises,” he said. “This means building a system that behaves the same way in any market conditions, not just when things are stable.
The executive also added: “The focus is on keeping the structure simple, fluid and flexible by design, not dependent on enabling environments or external support. People shouldn’t wonder if the system works; it just should work.”
Arduino also pointed out recent developments in Trade USDT. He noted that as of April, the stablecoin continues to trade at or near its all-time highs, with an increase of more than $5 billion.
He described this as reflecting continued demand in the second quarter. This demand is fueled by the release of Tether’s wallet, “The People’s Wallet,” a self-custodial app designed for the hundreds of millions of people who use USDT daily as a lifeline, the CEO added.
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