The USDT issuer published its third quarter 2026 attestation, prepared by BDO and covering reserves as of September 30. USDT issuance held broadly steady at about $184B across the first three quarters of the year.

Net operating profit reached $1.5B in Q3, in line with the previous quarter, bringing the year-to-date total to $4.5B. Most of the income came from U.S. Treasury bills and reverse repurchase agreements.

The reserve buffer nearly doubled to $7.95B from $4.1B at the end of Q2, with total assets of $191.5B against $183.5B in issued tokens.

Direct and indirect holdings of U.S. Treasury bills total $132.4B, keeping the bulk of reserves in liquid, short-duration instruments meant to support redemptions.