Tether reported a net profit of $1.5 billion in the third quarter, bringing its cumulative 2026 earnings to $4.5 billion. Its excess reserves nearly doubled from $4.1 billion to $7.95 billion, although the $3.85 billion increase was driven mainly by unrealized gains on its 100,000 bitcoins and gold holdings. The value of its bitcoin holdings rose by $2.47 billion, while gold’s nearly 4% quarterly rally added about $700 million in value. USDT remains the largest stablecoin, with a market capitalization of roughly $183 billion and a record 727 million users, despite a 0.5% decline in the third quarter. Tether has also increased the freezing of USDT linked to sanctions and became a founding partner of the FASE Foundation, but its regulatory scrutiny in the United States remains unresolved.
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