Tether posts $1.5 billion operating profit in Q2 as reserve buffer falls by half

Tether posts $1.5 billion operating profit in Q2 as reserve buffer falls by halfThe world’s largest stablecoin issuer added 14 metric tons of gold and about 1,800 bitcoin to its reserves during the second quarter.Tether increased its gold stockpile by 14 tons, which means it now has roughly 146.2 metric tons. (Jingming Pan/Unsplash)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 world’s 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.Tether’s USDT issuance increased by about $446 million to $184.6 billion during the quarter.12345678910The Evolution of the Crypto CEX Landscape: A Case Study on BinanceThe Evolution of the Crypto CEX Landscape: A Case Study on BinanceBinance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.Why it matters:Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.View Full Report