Tether Books $1.5 Billion in Q2 Profit as Reserve Buffer Shrinks

Tether, the issuer of USDT, reported a net operating profit of $1.5 billion in Q2, citing strong U.S Treasury portfolio and repo performance.

The company's reserve buffer shrank to approximately $4.11 billion, down from over $8.23 billion three months earlier.

Tether expanded its physical gold reserves by 14 tons to more than 146 tons during the quarter, but the value of those holdings fell due to a decline in gold prices.

The company added that it reduced secured lending exposure by approximately $2.38 billion and maintained excess reserves exceeding liabilities by around $4.11 billion as of June 30, 2026.