Tether released Q2 earnings report: net operating profit reached US$1.5 billion, reserve assets were US$4.11 billion higher than liabilities

On July 31, Tether released its second-quarter 2026 financial report. As of June 30, USDT circulation was approximately US$184.6 billion, an increase of approximately US$446 million from the end of the first quarter, and the stablecoin market share rose to more than 60%. The report was prepared by independent accounting firm BDO. Tether's net operating profit for the second quarter was approximately US$1.5 billion, mainly from U.S. Treasury bonds and repurchase businesses. At the end of the quarter, the company's total assets were approximately US$187.751 billion, and total liabilities were approximately US$183.642 billion, of which liabilities related to issued digital tokens were approximately US$183.622 billion, and assets were approximately US$4.11 billion higher than liabilities. During the quarter, the company reduced its exposure to guaranteed loans by approximately US$2.38 billion, a decrease of 15%, while increasing its holdings of physical gold by 14 tons, bringing its gold holdings to more than 146 tons. Tether said it remains one of the world's largest buyers and holders of U.S. Treasury bonds, with global users increasing by more than 30 million this quarter. Tether CEO Paolo Ardoino said that despite significant fluctuations in the gold and Bitcoin markets, the USDT is fully backed by reserves. During the same period, the company continued to promote the audit process of the four major accounting firms.