Tether Surges Past $1.8 Trillion Market Cap as Gold Reserves Jump

The Tether stablecoin issuer reported a net operating profit of $1.5 billion in the second quarter of 2026, driven by earnings from US Treasury bonds and repo agreements.

In June, the company held $187.75 billion in assets and $183.64 billion in liabilities, resulting in a surplus of $4.11 billion, according to a BDO audit report released last Friday.

The Tether has also increased its physical gold reserves by 14 tons to approximately 146.2 tons during the quarter, but the value of these holdings decreased from $19.84 billion to $18.84 billion due to a decline in gold prices.

Additionally, the company's Bitcoin reserves increased by 1,796 coins to 98,933 BTC, but the value of these holdings decreased from $6.62 billion to $5.80 billion due to lower Bitcoin prices.