Tether reports $1.5B Q2 profit, reserve buffer falls to $4.11B

Key facts

• Tether reported $1.5 billion in net operating profit for Q2 2026.
• The company's reserve surplus fell to $4.11 billion as of June 30.
• Tether increased its gold holdings by 14 metric tons to over 146 metric tons.
• Tether's USDT in circulation grew by $446 million to $184.6 billion.

Tether reported a net operating profit of approximately $1.5 billion for the second quarter of 2026, driven by returns from its U.S. Treasury and repurchase agreement holdings. The issuer of USDT, the world's largest stablecoin, reported holding $187.75 billion in assets against $183.64 billion in liabilities as of June 30, leaving it with $4.11 billion in excess reserves. This reserve surplus is down from over $8.23 billion three months prior. During the quarter, Tether increased its physical gold holdings by 14 metric tons to roughly 146.2 metric tons and its Bitcoin stash to 98,933 BTC. The company's USDT issuance increased by about $446 million to $184.6 billion.