Tether Hits Record $8.23B Excess Reserves on $1.04B Q1 Profit, Starts KPMG Audit; BTC ~$78.3K

Tether revealed a record $8.23 billion excess reserve buffer after $1.04 billion Q1 2026 net profit, with total reserves at ~$192 billion led by $141 billion U.S. Treasuries, plus gold (~$20B) and bitcoin (~$7B) holdings. Developments began May 1 with $191.8 billion assets against ~$183 billion USDT circulation and initial profit details. May 2 updates confirmed reserve growth from $6.3 billion year-end, steady liabilities, and a new KPMG audit amid scrutiny, as Bitcoin trades sideways around $78,300 (RSI ~61) with muted-positive reaction.