Tether Reports $1.5B Q2 Profit as USDT Supply Grows, Gold Holdings Rise
Summary
Tether reported $1.5 billion in net operating profit for Q2, up nearly 50% from Q1 2026. As of June 30, it held about $187.75 billion in assets and $183.64 billion in liabilities, leaving a reserve surplus of roughly $4.11 billion. USDT in circulation rose to about $184.6 billion, lifting market share above 60% even as the broader stablecoin market weakened. Most backing assets remained in short-term U.S. Treasuries, repos, and other liquid government-backed instruments, which drove most of the profit. Tether also cut secured lending exposure by about 15% and added 14 metric tons of gold, bringing holdings to more than 146 metric tons.
