Tether Releases Q2 Financial Report: Net Operating Income Reaches $1.5 Billion, Excess Reserves Amount to $4.11 Billion

July 31st. Tether released its Q2 2026 financial report, as of June 30th, with USDT's circulation supply reaching around $184.6 billion, an increase of about $4.46 billion from the end of Q1, pushing the stablecoin market share above 60%. The report was prepared by the independent accounting firm BDO.

Tether's Q2 net operating profit was about $1.5 billion, mainly from U.S. Treasury bonds and repurchase business. At the end of the quarter, the company's total assets were approximately $187.751 billion, total liabilities around $183.642 billion, with liabilities related to issued digital tokens at about $183.622 billion, resulting in assets exceeding liabilities by about $4.1 billion.

During the quarter, the company reduced its guaranteed loan exposure by about $2.38 billion, a 15% decrease; meanwhile, it acquired 14 tons of physical gold, increasing its gold holdings to over 146 tons. Tether stated that it remains one of the world's largest buyers and holders of U.S. Treasury bonds, with a global user base increasing by over 30 million this quarter.

Tether's CEO Paolo Ardoino stated that despite significant fluctuations in the gold and Bitcoin markets, USDT remains fully backed by reserves. The company continues to progress with the simultaneous audit process by the four major accounting firms.