Tether earned $1.5 billion in the second quarter, as U.S. Treasury holdings boosted profit growth

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Tether earned $1.5 billion in the second quarter, as U.S. Treasury holdings boosted profit growth

2026-08-01 00:52:02

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Tether created another multi-billion-dollar profitable quarter, as U.S. Treasury yields continued to support results.

Stablecoin issuer Tether once again achieved multi-billion-dollar profits in the latest quarter, and earnings from its U.S. Treasury portfolio continued to boost performance, even as the overall crypto market remained under pressure.

Tether's quarterly certification report released last Friday showed net income for the second quarter was US$1.5 billion, mainly due to interest income generated from U.S. Treasury holdings and repurchase agreements, which are short-term loans backed by government securities.

The company also disclosed that as of June 30, its reserve buffer was US$4.11 billion, meaning the amount of assets exceeding liabilities reached this level.

Despite the overall contraction in the stablecoin market, according to the certification report, the circulating supply of USDt (USDT) increased by US$446 million during the quarter to US$184.6 billion, allowing Tether to maintain a more than 60% share of the global stablecoin market. As of last Friday, the total value of the stablecoin market was approximately US$307 billion.

Tether remains one of the world's largest holders of U.S. Treasuries, which have become the backbone of its reserve portfolio. The company benefited from higher short-term interest rates, which boosted yields on treasury bills and related cash equivalents.

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