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

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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

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

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

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

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

Average USDC balances held across Coinbase products reached a record $22 billion in third-quarter 2026, generating $307 million in stablecoin revenue

The proposed United States GENIUS Act contains statutory provisions requiring stablecoin issuers to maintain technical capabilities to freeze, seize, and burn tokens tied to illicit activity

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The U.S. Secret Service and the FBI established a recovery partnership with Circle and Binance to trace stolen assets

Circle froze over $800 million in USDC tied to the October 29, 2026 Binance breach that drained approximately $6.3 billion, with the exact figure later specified as approximately $823 million

Tether froze over $1.5 billion in USDT tied to the October 29, 2026 Binance hack, while Ripple froze $200 million in RLUSD and World Liberty Financial froze $27 million in USD1

Cryptocurrency issuers and security teams froze approximately $2.67 billion to $3 billion in stablecoins and tokens, including USDT and USDC, following the $6.3 billion Binance hack on October 29, 2026