Tether
Tether reports $1.04 billion Q1 profit and record reserves
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Tether, the issuer of the largest stablecoin USDT, announced a first-quarter net profit of $1.04 billion for 2026. The company's excess reserves reached a record $8.23 billion, with total assets nearing $192 billion against liabilities of about $183.5 billion. Reserves include significant holdings in U.S. Treasuries, gold, and bitcoin.
The T3 Financial Crime Unit has frozen over $450 million tied to suspected illicit crypto activity since its launch in 2024. The effort involves Tether, Tron, and TRM Labs in partnership with law enforcement agencies.
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The UK government has introduced strict new rules capping political donations from British citizens abroad at £100,000 annually and imposing an immediate moratorium on cryptocurrency contributions. The measures, prompted by scrutiny of large gifts from a Tether-linked billionaire to Reform UK, aim to curb foreign financial influence. Communities Secretary Steve Reed described the threat as more acute due to tracing challenges with overseas funds and crypto.
Cryptocurrency company Tether submitted a binding offer to buy the majority stake in Italian football club Juventus from its main shareholder Exor, but the proposal was quickly turned down. Exor, controlled by the Agnelli family, affirmed that the club is not for sale. Tether, which already holds an 11.5 percent stake, aimed to invest heavily in the Turin-based team.
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Bitcoin's price has tumbled over 30 percent since mid-October, dropping from a record $US126,000 to below $US90,000. This decline coincides with stablecoins like Tether overtaking Bitcoin as the preferred tool for illicit activities such as money laundering. The shift is partly linked to unintended effects from US President Donald Trump's crypto legislation.