Tether Gold Reserves Surpass 146 Metric Tons

Tether has made significant additions to its reserves in Q2, including acquiring 14 tons of gold. This brings the total reserves to over 146 metric tons and $18.8 billion worth of gold stocks at the end of June. The company's CEO, Paolo Ardoino, stated that Tether remained one of the world's largest buyers of U.S. Treasuries and reduced secured lending by $2.38 billion during this period.

Tether's net operating profit for the quarter reached $1.50 billion, driven by its U.S. Treasury portfolio and repo performance. The company purchased 6 tons of gold in Q1, with the second quarter seeing a further acceleration of gold purchases despite gold posting a 14% decline during this time.