S&P Global Ratings downgraded USDT's stability score to 'weak' in November 2025, citing Bitcoin exposure exceeding the reserve buffer and undisclosed custodians and counterparties

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Strategy said Reza Virasteh will become co-principal financial officer, primarily managing software finances and budget

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MSTR CEO Phong Le will take over as principal financial officer, overseeing finance, bitcoin strategy, capital markets, treasury, and investor relations

Non-Treasury assets including gold, Bitcoin, secured loans, and other investments accounted for $47.7 billion, or 25%, of Tether's total reserve stack as of September 30, 2026

Tether holds $139.6 billion in U.S. Treasuries, reverse repurchase agreements, and cash, representing approximately 73% of its total reserve stack

Counting price movements in gold and Bitcoin, Tether's excess reserve buffer grew by $1.66 billion over the first nine months of 2026

Tether's reserve assets held $8.37 billion in Bitcoin as of September 30, 2026, making its Bitcoin holdings larger than its $7.95 billion excess reserve buffer

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

Gold and Bitcoin holdings in Tether's reserves totalled $27.45 billion as of September 30, 2026, meaning a combined 29% price decline would exhaust Tether's $7.95 billion reserve cushion

Tether generates earnings by investing user dollar deposits into yield-bearing short-term U.S. government securities and reverse repurchase agreements while retaining all interest profits without distributing yields to USDT holders

Tether held $132.4 billion in U.S. Treasury holdings in its reserve assets as of September 30, 2026

Accounting firm BDO prepared Tether's Q3 2026 financial attestation under the ISAE 3000R standard, showing total reserve assets of approximately $191.5 billion as of September 30, 2026

Accounting firm BDO noted in Tether's Q3 2026 attestation, covering reserves as of September 30, 2026, that reserve asset valuations assume normal trading conditions rather than market stress

Strategy funded its bitcoin purchases and STRC preferred share buybacks in 2026 through heavy shareholder equity dilution

Strategy held 848,517 bitcoin as of October 25, 2026, representing a 26% increase in its holdings since the start of the year

Elliptic reported that attackers divided 18,270 stolen Bitcoin from the Binance hack on October 29, 2026 across 19 addresses, holding approximately 1,000 BTC in most addresses

Attackers in the Binance breach on October 29, 2026 converted approximately 434 million USDT into 160,451 ETH on Uniswap, 1inch, and request-for-quote systems at prices 12% to 26% worse than market rates, according to Elliptic

Elliptic reported that attackers in the Binance hack on October 29, 2026 converted approximately $786 million in stolen stablecoins into Ethereum and Tron before asset freezes took effect

Attackers in the Binance breach on October 29, 2026 exchanged approximately 234 million USDT for 638 million TRX on SunSwap and sold $48 million in RLUSD stablecoins alongside approximately 150 other stolen tokens, according to Elliptic

As of October 30, 2026, none of the 18,270 stolen Bitcoin divided across 19 addresses in the Binance hack on October 29, 2026 had reached an identified exchange or trading service, according to Elliptic

Queued GHO borrow-cap reductions on Aave cut Core market ceilings from 150 million to 105 million GHO and Prime market ceilings from 85 million to 35 million GHO