Summary
- Tether reported $1.5 billion in net operating profit for the second quarter of 2026, even as its reserve buffer fell by about half to $4.11 billion.
- The stablecoin issuer increased its gold holdings to roughly 146.2 metric tons and its bitcoin stash to 98,933 BTC.
Tether reported $1.5 billion in net operating profit for the second quarter of 2026, driven by returns from its U.S. Treasury and repurchase agreement holdings.
The issuer of USDT, the worlds largest stablecoin, reported holding $187.75 billion in assets against $183.64 billion in liabilities as of June 30, leaving it with $4.11 billion in excess reserves, according to the BDO attestation released Friday. Those excess reserves are down from just over $8.23 billion three months earlier.
The second quater report shows Tether increased its physical gold holdings by 14 tons to roughly 146.2 metric tons from 132.2 tons during the quarter. The value of those holdings, however, fell to $18.84 billion from $19.84 billion because the price of gold dropped about 15% to just over $4,000 per ounce.
The company lifted bitcoin holdings by roughly 1,796 coins to 98,933 BTC. The value of those holdings fell to $5.80 billion from $6.62 billion as the bitcoin price used in the reports declined to $58,600 from $68,200, during the period.
Tethers USDT issuance increased by about $446 million to $184.6 billion during the quarter.