Stablecoin issuer Tether reports a 50% quarterly profit jump as USDT circulation hits $184.6 billion and reserves exceed liabilities by $4.11 billion.
Tether announced a net operating profit of $1.5 billion for Q2 2026, up nearly 50% from the previous quarter. The company attributed the gain to increased USDT circulation and a growing reserve surplus, despite a shrinking stablecoin market overall.
As of June 30, Tether’s assets totaled $187.75 billion against $183.64 billion in liabilities, resulting in a $4.11 billion reserve surplus. USDT in circulation reached $184.6 billion, an increase of $446 million from Q1 2026, while its market share rose above 60%. The company also added 14 metric tons of gold to its holdings, bringing total reserves to over 146 metric tons.
Most of Tether’s reserves remain invested in short-term U.S. Treasuries and repurchase agreements. The company emphasized its role in financial inclusion, particularly in developing markets.