Tether Reports Record Profits Amid Stablecoin Market Growth

Tether's second-quarter financial report has been released, revealing a net operating profit of approximately $1.5 billion and assets exceeding liabilities at $4.11 billion.

The stablecoin issuer's assets stood at $187.75 billion as of June 30, while its total liabilities were $183.64 billion. The majority of Tether's profits came from US Treasury bonds and repurchase agreements.

Tether also announced a significant increase in the amount of USDT in circulation, reaching approximately $184.6 billion by the end of the second quarter, up from $446 million compared to the first quarter.

The company reported that its share of the global stablecoin market exceeded 60 percent and reduced its exposure to secured loans by around $2.38 billion during the quarter.