Tether Reports $1.5 Billion Profit in Q2 Despite Reduced Reserves

Tether Records Significant Q2 Profit

Tether, the world’s largest stablecoin issuer, reported a net operating profit of $1.5 billion for the second quarter of 2026. This substantial profit is attributed to the performance of its investments in U.S. Treasury securities and repurchase agreements.

Reserve Buffer Experiences Notable Decline

Despite the impressive profit figures, Tether’s reserve buffer experienced a significant decrease, dropping by nearly half to $4.11 billion as of June 30, 2026. This decline comes from $187.75 billion in assets against $183.64 billion in liabilities, as detailed in an attestation by BDO.

Gold and Bitcoin Holdings Adjusted

During the second quarter, Tether increased its gold reserves by 14 metric tons, now totaling approximately 146.2 metric tons. However, the value of these gold holdings fell from $19.84 billion to $18.84 billion due to a 15% drop in gold prices.

The company also boosted its Bitcoin holdings, acquiring an additional 1,796 BTC to bring its total to 98,933 BTC. The value of these Bitcoin assets also declined, dropping from $6.62 billion to $5.80 billion as Bitcoin prices fell.

Increase in USDT Issuance

During the quarter, Tether’s issuance of USDT rose by approximately $446 million, reaching a total of $184.6 billion.