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Tether’s Q2 profit
Tether said it posted approximately $1.5 billion in net operating profit during the second quarter of 2026, supported mainly by returns from its U.S. Treasury portfolio and repo operations, according to a BDO attestation released on Friday.
“Tether posted approximately $1.5 billion in net operating profit during the second quarter of 2026”
The company reported that USDT supply rose to approximately $184.6 billion by the end of June, extending its share of the global stablecoin market to over 60%.
Tether also said it reported total assets of $187.7 billion and total liabilities of $183.6 billion, resulting in excess reserves of approximately $4.1 billion.
In the same quarter, Tether cut secured lending by about $2.4 billion and expanded its physical gold reserves by 14 tons to more than 146 tons, while ending the quarter with approximately $5.8 billion worth of Bitcoin.
Tether said it added 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.
Reserves buffer shrinks
CoinDesk reported that Tether’s $4.11 billion excess reserves were down from just over $8.23 billion three months earlier, even as the issuer said it maintained its reserve strategy.
Cryptonews.net said Tether’s reserve portfolio remained concentrated in high-quality liquid assets, with U.S. government-backed securities continuing to form the core of its holdings.
CoinDesk added that Tether increased its physical gold holdings by 14 tons to roughly 146.2 metric tons during the quarter, while the value of those holdings fell to $18.84 billion from $19.84 billion because the price of gold dropped about 15% to just over $4,000 per ounce.
CoinDesk also said Tether lifted bitcoin holdings by roughly 1,796 coins to 98,933 BTC, with the value of those holdings falling to $5.80 billion from $6.62 billion as the bitcoin price used in the reports declined to $58,600 from $68,200.
In its own statement, Tether said it reduced its secured lending exposure by approximately $2.38 billion (15%) and that its reserves exceeded its liabilities by approximately $4.11 billion as of June 30, 2026.
Ardoino on resilience
Tether CEO Paolo Ardoino said, "Q2 demonstrated the strength of Tether’s reserve strategy under real market pressure," and added that "USD₮ remained fully backed with our reserves still exceeding liabilities by $4.11 billion."
“"Q2 demonstrated the strength of Tether’s reserve strategy under real market pressure,"”
In the same statement, Ardoino said the company’s net operating profit for the quarter was $1.50 billion, led by a strong U.S Treasury portfolio and repo performance, and that Tether remained one of the world’s largest buyers of U.S. Treasuries.
Tether said it reduced secured lending by $2.38 billion and added 14 tons of physical gold, while also reporting that its global user base continued to grow by more than 30 million users.
CoinDesk framed the quarter around the combination of $1.5 billion in operating profit and the reserve buffer falling by half, tying the figures to Tether’s BDO attestation released Friday.
Cryptonews.net said the company was continuing work on its Big Four audit and expanding its technology and financial infrastructure ecosystem as it disclosed the quarter’s results.
