Tether Posts Record Q2 Profit Amid Market Volatility

Tether, the largest stablecoin issuer, reported a $1.5 billion net operating profit for Q2 2026. This profit was mainly driven by income from U.S. Treasury holdings and repurchase agreements.

The company's USDT tokens in circulation grew to $184.6 billion, capturing over 60% of the stablecoin market share. Despite broader cryptocurrency market declines, Tether maintained its dominant position.

Tether's reserves exceeded liabilities by $4.11 billion, with a significant portion held in short-term U.S. Treasury holdings. The company has also diversified into gold and other ventures, increasing its gold holdings by 14 tons to over 146 tons.