Tether Reports $1.5 Billion Profit in Q2 2026

Stablecoin issuer Tether recorded another multibillion-dollar quarter as earnings from its US Treasury portfolio continued to support its financial performance despite weakness across the broader crypto market.

According to its latest quarterly attestation, published on Friday, Tether generated a net operating profit of $1.5 billion during the second quarter. The majority of this income came from interest earned on US Treasury holdings and repurchase agreements, which are short-term loans backed by government securities. The company also reported a reserve buffer of $4.11 billion as of June 30, meaning the value of its assets exceeded its liabilities by that amount.

USDT supply grows despite stablecoin market contraction

Although the wider stablecoin market declined during the quarter, the circulating supply of Tether’s USDT increased by $446 million to reach $184.6 billion. The growth allowed Tether to retain more than 60% of the global stablecoin market, according to the attestation. The overall stablecoin market was valued at approximately $307 billion as of Friday, based on DeFiLlama data.

Treasury holdings continue to support earnings

Tether remains one of the world’s largest holders of US Treasury securities, which form a central part of the reserves backing USDT. The company has benefited from elevated short-term interest rates, which have increased returns from Treasury bills and other cash-equivalent assets held within its reserve portfolio.

Sources:

https://tether.io/news/tether-posts-strong-q2-performance-generates-1-5b-net-operating-profit-maintains-4-11b-reserve-buffer-and-expands-gold-holdings-to-more-than-146-tons/

https://cointelegraph.com/news/tether-q2-profit-us-treasury-holdings-usdt-supply

https://defillama.com/stablecoins