Tether Posts Record Q2 Profit as USDT Supply Hits $184.6B

Tether's second-quarter financial report has revealed a net operating profit of $1.5 billion, driven by strong returns from its U.S. Treasury and repurchase agreement investments.

The company's total assets reached $187.75 billion as of June 30, with liabilities standing at $183.64 billion, leaving it with $4.11 billion in excess reserves.

Tether increased its physical gold holdings by 14 metric tons to approximately 146.2 metric tons, but the value fell to $18.84 billion due to a 15% drop in gold prices to just above $4,000 per ounce.

The company also expanded its Bitcoin reserves by adding around 1,796 BTC to reach a total of 98,933 BTC, with the reported value declining to $5.80 billion due to a decrease in Bitcoin price to approximately $58,600 from $68,200.