Tether reports $1.5 billion Q2 profit and boosts gold reserves

Tether posted approximately $1.5 billion in net operating profit during the second quarter of 2026, supported mainly by returns from its US Treasury portfolio and repo operations, according to the company’s BDO attestation released on Friday. In Q2, USDT supply rose to approximately $184.6 billion by the end of June, extending its share of the global stablecoin market to over 60%. The company reported total assets of $187.7 billion and total liabilities of $183.6 billion, resulting in excess reserves of approximately $4.1 billion. Tether said its reserve portfolio remains concentrated in high-quality liquid assets, with US government-backed securities continuing to form the core of its holdings. Tether also reduced secured lending by approximately $2.4 billion during the quarter and increased its physical gold holdings by 14 tons to more than 146 tons. The company said its reserve strategy remained resilient through high volatility in both gold and Bitcoin prices. In addition, Tether disclosed adding more than 30 million users globally during the quarter while continuing work on its Big Four audit and expanding its technology and financial infrastructure ecosystem. This is a develo...