Tether Reports $1.3B Q2 Profit As Excess Reserves Reach $5.2B

Tether reported $1.3 billion in Q2 net operating profit in its latest BDO attestation statement, while excess reserves rose to $5.2 billion above full USDT backing. The figures keep Tether at the center of the stablecoin market’s profitability and reserve debate. USDT remains the largest dollar stablecoin in crypto, and Tether’s reserve earnings have become one of the most closely watched financial stories in the sector. The main driver is familiar: interest income from large holdings of U.S. Treasury assets. But the details still need careful wording. Net operating profit is not the same as total reserves, and excess reserves are not the same thing as circulating supply. For more details, visit the official Tether platform. TL;DR Tether reported $1.3 billion in Q2 net operating profit. Its latest attestation showed $5.2 billion in excess reserves. The figures are separate from total USDT circulating supply and full reserve backing. Why Tether Is So Profitable Tether’s business benefits from scale. When users hold USDT, Tether holds reserve assets backing those tokens. A large portion of those reserves is held in short-term U.S. Treasury instruments and similar cash-equivalent asse...