Tether, the world's largest stablecoin issuer, has released its financial report for the second quarter of 2026. According to the report, prepared by the independent audit firm BDO, the company's net operating profit for the quarter was approximately $1.5 billion, and the excess of assets over liabilities reached $4.11 billion.
As of June 30, 2026, the volume of $USDT in circulation was approximately $184.6 billion. This figure represents an increase of roughly $446 million compared to the end of the first quarter. Tether also announced that $USDT's share of the global stablecoin market has surpassed 60 percent.
The majority of the company's net operating profit, approximately $1.5 billion in the second quarter, was generated from U.S. Treasury bonds and repurchase agreements. At the end of the quarter, Tether's total assets amounted to approximately $187.75 billion, while total liabilities were $183.64 billion. Approximately $183.62 billion of the liabilities consisted of obligations related to issued digital tokens.
According to the report, Tether reduced its share of secured loans by approximately $2.38 billion during the quarter. This reduction constitutes a 15 percent decrease compared to the previous period. The company also increased its physical gold holdings by 14 tons over the same period, bringing its total gold reserves to over 146 tons.
Tether stated that it remains one of the world's largest buyers and holders of U.S. Treasury bonds and reported that its global user base grew by more than 30 million in the second quarter.
Tether's CEO, Paolo Ardoino, stated that despite high volatility in the gold and bitcoin markets, $USDT remains fully backed by reserves. Ardoino also mentioned that the company is undergoing a comprehensive independent audit by one of the world's top four audit firms.
*This is not investment advice.
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