Tether Surpasses $1.5B Quarterly Profit as USDT Supply Expands

Tether's second-quarter profit reached approximately $1.5 billion, driven by returns from US Treasury holdings and repo operations.

The company's USDT supply grew to about $184.6 billion, accounting for over 60% of the stablecoin market.

Tether reported a total of $187.7 billion in assets and around $4.1 billion in excess reserves at the end of June.