Tether compares apples to oranges to claim Q2 ‘profit’

Homepage > News > Business > Tether compares apples to oranges to claim Q2 ‘profit’ Tether lost billions of dollars in the second quarter of 2026, but the world’s largest stablecoin issuer chose to rather clumsily move its financial goalposts rather than admit this setback. Profits, losses, lies, damned lies, and statistics Gold, BTC assets, and controversial ‘secured loans’ all decline Tether looks to tokenize Kenya, but inept hitmen keep getting in the way On July 31, Tether issued its financial report card for the three months ending June 30, during which the company claimed a $1.5 billion ‘net operating profit.’ That would be a significant improvement over the $1.04 billion ‘profit’ Tether reported in its Q1 report, but a closer look at the Q2 numbers shows this ‘apples to oranges’ switcheroo is masking a sobering reality. The Q2 report shows Tether’s reserve assets worth $187.75 billion, a $4.1 billion surplus to the value of issued USDT tokens as of June 30. But the ‘change in net equity’ figure shows a loss of nearly $3.2 billion in Q2, and there was a $943 million ‘net capital movement’ into Tether’s reserves to boost that surplus to $4.1 billion. Moreover, Tether’...