Tether Rakes In $1.3B Profit Amid $5.2B Reserve Cushion
Tether's latest attestation statement reveals a $1.3 billion Q2 net operating profit, with excess reserves reaching $5.2 billion above full USDT backing.
The figures underscore Tether's profitability and reserve debate in the stablecoin market, with USDT remaining the largest dollar stablecoin in crypto.
The main driver of Tether's earnings is interest income from large holdings of U.S. Treasury assets, a model that has contributed to stablecoin issuers becoming major financial businesses.