Tether reported a third-quarter net operating profit of $1.5 billion for 2026, bringing its total net operating profit for the first nine months of 2026 to $4.5 billion

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Supply, adoption, and competitive dynamics of fiat-pegged tokens, tracking issuers like Tether and Circle and the payment and trading flows they power.