Tether, the issuer of the world's largest stablecoin, recorded a $1.5 billion net operating profit for the second quarter of 2026—a nearly 50 percent increase from Q1.
The company's attestation, released July 31, 2026, shows reserves surpassing liabilities by $4.11 billion. USDT in circulation hit $184.6 billion during the quarter, the highest supply on record.
Tether added 14 metric tons of gold during Q2 and now holds more than 146 metric tons as part of its reserve mix alongside U.S. Treasuries and repurchase agreements.
The gold allocation serves as a hedge against currency devaluation and market volatility. Tether's profit reflects yield generated across that reserve mix.
The GENIUS Act, signed in 2025, established a federal framework for payment stablecoins, mandating reserve requirements and auditing standards for U.S.-based issuers. Tether's quarterly attestations feed directly into the transparency demands that framework created.
Bitcoin trades at $62,989, down 1.4 percent over 24 hours. Ethereum sits at $1,868, down 1.1 percent. With spot prices under pressure, USDT's $184.6 billion supply signals traders are parking capital in stablecoins rather than exiting the ecosystem entirely.
