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FollowingTether once again made huge profits with USDT
As the issuer of the world's first stablecoin, Tether reported a net profit of US$1.3 billion in the second quarter of 2026. Its excess reserves now reach $5.2 billion, and U.S. Treasuries remain the core pillar of its income.
Quick overview of core points
- Tether achieved a profit of US$1.3 billion in the second quarter.
- USDT's excess reserves climbed to US$5.2 billion.
- U.S. Treasury bonds still occupy the center of asset reserves.
USDT continues to generate US$1.3 billion in revenue for Tether
Tether continues to accumulate huge profits. As early as 2025, the group's cumulative profits have exceeded the US$10 billion mark. According to the latest reserve audit report, it generated another net operating profit of US$1.3 billion in the second quarter of 2026.
USDT has always been the cornerstone of Tether's business. Each token in circulation must be fully backed by assets held by Tether. A large portion of these reserve assets is invested in highly liquid instruments, especially short-term U.S. Treasury bonds.
These investments generated considerable interest income, and Tether retained all of this income. As USDT continues to expand in size, this revenue has grown rapidly. Currently, stablecoins are not only widely used in exchanges, decentralized finance (DeFi) and payment scenarios, but are also often used as "digital dollars" between cryptocurrency transactions. The increase in supply has led to the simultaneous expansion of reserves, which in turn has promoted continued growth in income.
U.S. Treasurys continue to deliver strong returns
Tether has held a large amount of U.S. Treasurys for years. This asset allocation has become one of its main sources of income. The Group directly benefits from the current high interest rate level in the United States.
Users hold USDT, Tether is responsible for managing these reserves, and the interest generated is owned by the company. Today, the influence of stablecoins far exceeds the crypto market itself, and their role in financing U.S. debt has become increasingly prominent.
Tether is at the center of this evolution. The group no longer relies solely on the rise of Bitcoin or the prosperity of the altcoin market. Its reserve assets themselves generate revenue, as evidenced by a $1.3 billion profit this quarter. This is not due to the issuance of new tokens or the spectacular market surge, but mainly due to the high-quality assets that support the USDT.
Tether maintains a buffer of US$5.2 billion.
Another key figure in the report is US$5.2 billion in excess reserves. In other words, Tether claims it holds US$5.2 billion more in assets than needed to cover the USDT in circulation.
This buffer layer provides additional security for token redemption. Even if some asset prices fall or other expenditures occur, they can be absorbed without directly touching the core reserves used to support the USDT. Due to its huge size, Tether has always received great attention from regulators, banks and the government. USDT's trading scenarios have gone far beyond traditional cryptocurrency platforms, extending to international payments, emerging markets, US dollar deposits and various trading activities.
It is expected that regulatory efforts in the United States will be further strengthened in the coming months. Tether will face a stricter regulatory framework for stablecoins. In particular, the GENIUS Act, which targets digital dollar issuers such as USDT, is preparing new rules. Tether needs to actively respond to this change.
