USDT Issuer Tether Hits $1.5B Q2 Profit, Hoards 98,932 Bitcoin

Tether, the largest stablecoin issuer, reported a net operating profit of $1.5 billion for the second quarter of 2026, according to an attestation by BDO Advisory Services. The company’s USDT stablecoin saw its market capitalization grow by $446 million quarter-over-quarter to $184.6 billion, capturing 60% of the stablecoin market despite a broader cryptocurrency market slowdown.

Tether’s reserves are primarily backed by U.S. Treasury bills, with holdings of nearly $115 billion. The company also added 14 tons of physical gold during the quarter, bringing its gold stash to $18.83 billion. Additionally, Tether’s Bitcoin holdings increased to 98,932 BTC, worth approximately $5.8 billion at June 30 prices.

Assets backing USDT exceeded liabilities by $4.11 billion, underscoring the company’s resilience during unfavorable market conditions. CEO Paolo Ardoino highlighted the strength of Tether’s reserve strategy under real market pressure, noting that the assets backing its reserves were tested directly.

Tether also reported a user base growth of over 30 million users, emphasizing the popularity of its stablecoin in global markets. In a move toward greater transparency, the company has hired Big Four accounting firm KPMG to conduct its first-ever full independent financial audit of USDT reserves, a significant step beyond its regular quarterly attestations.

Source: https://news.bitcoin.com/stablecoins/usdt-issuer-tether-hits-1-5b-q2-profit-hoards-98932-bitcoin/