Tether reports $1.5 billion in second-quarter profit, attributing strong results to its reserve strategy, including U.S. Treasury holdings. Across reporting, Tether’s reserve surplus and excess reserves figure changes significantly versus the prior period. One report says the reserve surplus grows to about $4.11 billion in Q2 as U.S. Treasury holdings continue to contribute to profits while USDT supply increases. Another outlet reports that Tether’s reserve buffer falls by more than $4 billion and that excess reserves drop by about half compared with the earlier quarter.
Tether’s Q2 attestation also describes the composition of assets backing USDT. Sources state Tether holds U.S. Treasuries and related arrangements such as repos, and adds physical gold during the quarter. CoinDesk reports an increase of about 14 metric tons of gold and roughly 1,800 bitcoin to its reserves. Decrypt similarly highlights the presence of U.S. Treasuries, repo agreements, and gold in the backing assets, citing more than 146 metric tons of gold in total. Multiple outlets also note that broader stablecoin and crypto market conditions remain weaker and continue to face sector-wide pressure, even as Tether’s operating results remain positive.
