Tether Soars to $1.5B Q2 Earnings on US Treasury Holdings

Tether's quarterly earnings report for Q2 revealed a net operating profit of $1.5 billion, driven primarily by interest earned on US Treasury holdings and repurchase agreements.

The company's reserve buffer also increased to $4.11 billion as of June 30, exceeding liabilities by that amount.

Despite the broader contraction in the stablecoin market, Tether maintained more than 60% of the global stablecoin market share with a circulating supply of USDt (USDT) increasing by $446 million during Q2 to $184.6 billion.