Digital assets firm Tether has released its second-quarter 2026 financial figures, highlighting steady operational results and strategic adjustments to its reserve portfolio. The company, known for issuing the USDT stablecoin, recorded approximately $1.5 billion in net operating profit for the three months ending June 30, 2026.
This performance was primarily fueled by income generated from its substantial holdings of US Treasury securities and repurchase agreement activities.
According to the attestation prepared by independent accounting firm BDO, Tether’s total assets stood at roughly $187.75 billion at the close of the quarter.
Liabilities totaled about $183.64 billion, the bulk of which related to issued digital tokens.
This left a reserve surplus of approximately $4.11 billion, confirming that assets continued to exceed obligations despite market fluctuations.
Circulating USDT reached about $184.6 billion, representing a modest increase of roughly $446 million from the prior quarter and pushing the token’s share of the overall stablecoin market above 60 percent even as the broader sector experienced contraction.
A notable development involved the expansion of physical gold holdings. Tether acquired an additional 14 tons of bullion during the period, elevating its total gold reserves to more than 146 tons.
These holdings were valued at around $18.8 billion at quarter-end.
The move underscores gold’s growing role within the company’s diversified reserve strategy, which remains heavily weighted toward short-duration, high-quality liquid assets such as US government-backed instruments.
Concurrently, Tether reduced its exposure to secured lending by approximately $2.38 billion, equivalent to a 15 percent decline.CEO Paolo Ardoino emphasized the resilience of the firm’s approach amid volatility in both gold and Bitcoin markets.
He noted that USDT stayed fully backed throughout the quarter, with reserves still surpassing liabilities by $4.11 billion.
Ardoino highlighted the strong contribution from Treasury and repo performance, the continued status as one of the world’s largest purchasers of US Treasuries, the gold additions, and growth in the global user base exceeding 30 million additional participants.
These outcomes, he stated, illustrate the company’s liquidity, discipline, and capacity to navigate market cycles while supporting hundreds of millions of users worldwide.
The attestation also reaffirmed that the majority of reserves are allocated to instruments providing ready liquidity for potential redemptions under varying conditions.
Work continued on a more comprehensive Big Four audit process, alongside broader efforts to develop technology and financial infrastructure.
Bitcoin holdings increased modestly during the quarter as well, though market price movements affected the reported dollar valuations of both gold and Bitcoin positions.
The Q2 results portray a stablecoin issuer maintaining operational strength and actively refining its asset mix.
By prioritizing high-quality liquid assets while selectively increasing exposure to physical gold, Tether aims to balance yield generation with resilience.
The reported profit and reserve buffer provide further evidence of the digital asset firm’s ability to generate returns from traditional fixed-income instruments even as it expands into alternative store-of-value assets. User growth and market-share gains for USDT further signal sustained demand for its products across global markets.