Tether earns $1.5B in Q2 as US Treasury holdings fuel profits
Summary
Tether reported a $1.5 billion net operating profit in Q2, largely from interest on its US Treasury holdings and repurchase agreements. Its reserve buffer rose to $4.11 billion as of June 30, meaning assets exceeded liabilities by that amount. Even as the broader stablecoin market contracted, USDT circulation increased by $446 million in the quarter to $184.6 billion. That kept Tether above 60% of the global stablecoin market. The company’s earnings continue to benefit from elevated short-term interest rates and its large portfolio of Treasury securities and cash-equivalent assets.
