Cryptocurrency giant Tether, the issuer of the largest stablecoin on the market $USDT, published its financial report for the second quarter of 2026. It was prepared by the auditing firm BDO (one of the top-5 global auditing networks alongside the 'Big Four').
The company's net operating profit amounted to $1.5 billion, and the value of assets exceeded liabilities by $4.11 billion. A year earlier, for the second quarter of 2025, Tether's net operating profit was $4.9 billion.
The volume of issued $USDT tokens reached $184.6 billion by the end of June, increasing by approximately $446 million compared to the end of the first quarter. Despite a contraction in the overall stablecoin market capitalization, the share of $USDT exceeded 60% within it, the company stated. The vast majority of tokens are issued on the Tron and Ethereum blockchains.
U.S. short-term treasury bills continue to form the basis of Tether's reserves, and the income from them remains one of its primary sources of profit. Tether is one of the largest holders of U.S. government debt in the world, on par with entire nations.
The company also reported that it increased its physical gold reserves by 14 tons, bringing them to over 146 tons. Part of it is used to back the gold-pegged token XAUT (rank 32 on CoinMarketCap with a capitalization of $2.46 billion), and part is held as an investment. The gold is stored in bullion in a Swiss vault. Tether is considered the largest holder of the metal among private companies.
The company valued its own bitcoin reserves at $8.93 trillion.
According to Tether's data, as of June 30, the company's total assets amounted to $187.75 billion against liabilities of $183.64 billion, of which $183.62 billion were attributed to issued tokens.
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