Tether Q2 Profit Reaches $1.5B as Stablecoin Market Contracts

Tether's second-quarter operating profit reached $1.5 billion, according to its latest reserve report. This figure is despite the contraction in the wider stablecoin market.

The company's USDT supply expanded by $446 million from the first quarter, reaching approximately $184.6 billion by quarter-end. Tether retained over 60% of global stablecoin supply, although DeFiLlama placed its dominance near 59.3%, citing different timing and circulation measurements.

Treasury bills and repos remained the main reserve assets for Tether, driving quarterly operating profit. The company held $187.75 billion in assets against $183.64 billion in liabilities, leaving a $4.11 billion excess reserve buffer at quarter-end.