# Tether Publishes Reserve Attestation for Q1 2026

*Author: Jack Inabinet*
*Published: May 1, 2026*
*Source: https://www.bankless.com/fr/read/news/tether-publishes-reserve-attestation-for-q1-2026*

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Digital asset issuer Tether earned $1.04B in net profit during the first quarter of 2026 as per its latest [attestation report](https://assets.ctfassets.net/vyse88cgwfbl/6crn1tXbl6AtWZBWucZnfg/c4ff472d70c1b48c2f689f27b54c84f5/ISAE_3000R_-_Opinion_Tether_International_Financial_Figure_31-03-2026.pdf), certified by BDO Italia.

### What's the Scoop?
- **Key Figures: **Tether generated $1.04B in net income in [Q1 2026](https://assets.ctfassets.net/vyse88cgwfbl/6crn1tXbl6AtWZBWucZnfg/c4ff472d70c1b48c2f689f27b54c84f5/ISAE_3000R_-_Opinion_Tether_International_Financial_Figure_31-03-2026.pdf), but saw outstanding liabilities (primarily its USDT stablecoin) decline by 1.6% from $186.5B to $183.5 quarter-over-quarter. Still, shareholder equity (the residual between Tether's reported assets and liabilities) increased by nearly 30% from $6.3B to $8.2B QoQ, allowing the firm to [purport](https://tether.io/news/tether-posts-1-04b-q1-2026-profit-despite-highly-volatile-global-markets-reaches-all-time-highs-8-23b-reserve-buffer-and-maintains-u-s-treasury-heavy-backing/) that excess reserves have increased to a new all-time high.
- **Reserve Breakdown: **Compared to [Q4 2025](https://assets.ctfassets.net/vyse88cgwfbl/20d2BoOAd28ZfkiQPYPjGN/4ed12f5939e1e06ee5aceccad4effbe4/ISAE_3000R_-_Opinion_Tether_International_Financial_Figure_31-12-2025.pdf), cash and cash equivalents outpaced declined by 4% in Q1 2026, from $147.2B to $141.2B, outpacing the drop in Tether's outstanding liabilities. The largest percentage increase came from Tether’s “other investments” bucket, which surged 75% QoQ to $4.8B. The firm also disclosed $3.4B in public equity holdings for Q1 2026, a n newly created reserve category that would have previously been included within “other investments.” Inclusive of its public equity holdings, Tether's "other investments" nearly tripled in the first quarter of 2026.
- **Limited Scope:** In March, Tether [declared](https://www.bankless.com/read/news/tether-begins-first-audit-with-big-four-accounting-firm) that it had, "entered a formal engagement with a Big Four accounting firm to complete its first full independent financial statement audit." The stablecoin issuer's Q1 attestation pales to the rigor of a comprehensive audit performed a [Certified Public Accountant firm](https://moremwaller.cpa/cpa-firm-vs-non-cpa-accountants/) in accordance with [GAAP](https://accountingfoundation.org/accounting-and-standards/about-gaap/what-is-gaap) standards, and it remains unclear when such an audit will be completed.

> Tether Posts $1.04B Q1 2026 Profit Despite Highly Volatile Global Markets, Reaches All-Time-Highs $8.23B Reserve Buffer, and Maintains U.S. Treasury-Heavy BackingRead more: [https://t.co/p548wlpbVt](https://t.co/p548wlpbVt)— Tether (@tether) [May 1, 2026](https://twitter.com/tether/status/2050184426655535159?ref_src=twsrc%5Etfw)