Tether Surpasses $1.5B Quarterly Profit Amid Market Turmoil
Tether, the largest stablecoin issuer, posted a significant profit of $1.5 billion in Q2 2026, despite market volatility and declining prices for gold and Bitcoin. The company's net operating profit was driven mainly by returns from its U.S. Treasury portfolio and repo operations.
The profit comes as Tether's USDT stablecoin supply grew to about $184.6 billion during the quarter, capturing over 60% of the stablecoin market. This increase in demand is a testament to the resilience of the stablecoin market despite broader cryptocurrency declines.
Tether also made significant changes to its reserves, increasing its gold holdings by 14 metric tons to approximately 146.2 tons and adding about 1,800 Bitcoin to its reserves. However, the value of these assets declined due to falling prices.