Tether Cranks Up Profits and Reserves Amid Global Stablecoin Scrutiny

Tether Holdings reported a record-breaking net operating profit of $1.5 billion in the second quarter, along with an increase in its reserve buffer to $4.11 billion and a significant expansion of its physical gold holdings.

The stablecoin issuer's Q2 operating profit was generated from the yield on US Treasury bills and other liquid assets used as backing for USDT.

Tether has also revealed that it owns over 146 tons of physical gold, indicating a move beyond cash and government bonds in its asset diversification strategy.