Tether Surpasses $1.5B Profit as USDT Dominance Hits New Heights

Tether's financial position continues to strengthen as it reports a $1.5 billion profit in its latest data published in BDO's independent attestation report as of June 30.

The company's dominance in the stablecoin market grows, with its USDT token supply reaching $184.6 billion and commanding over 60% of the global market share.

The majority of Tether's profit stemmed from the yield on its portfolio of US Treasury securities and short-term repo agreements, which has become a core revenue stream for the company in recent years.

Tether's assets surpassed $187 billion by the end of June, with total liabilities standing at $183.64 billion, consisting almost entirely of issued $USDT tokens.