Tether, the world’s largest stablecoin issuer, has released its financial report for the second quarter of 2026. According to the report, prepared by independent auditing and accounting firm BDO, the company’s net operating profit for the quarter was approximately $1.5 billion, while its assets exceeding liabilities reached $4.11 billion.
As of June 30, 2026, the amount of $USDT in circulation was recorded at approximately $184.6 billion. This figure represents an increase of approximately $446 million compared to the end of the first quarter. Tether also announced that $USDT’s share of the global stablecoin market has exceeded 60 percent.
The majority of the company’s approximately $1.5 billion net operating profit in the second quarter came from US Treasury bonds and repurchase agreements. At the end of the quarter, Tether’s total assets were approximately $187.75 billion, while its total liabilities stood at $183.64 billion. Approximately $183.62 billion of its liabilities consisted of debt related to issued digital tokens.
According to the report, Tether reduced its exposure to secured loans by approximately $2.38 billion during the quarter. This decrease represents a 15 percent decline compared to the previous period. The company also added 14 tons to its physical gold reserves during the same period, bringing its total gold holdings to over 146 tons.
Tether stated that it continues to be among the world’s largest buyers and holders of US Treasury bonds, and reported that its global user base increased by more than 30 million in the second quarter.
Tether CEO Paolo Ardoino stated that despite the high volatility seen in the gold and Bitcoin markets, $USDT remains fully backed by reserves. Ardoino also mentioned that the company is in the process of undergoing a comprehensive independent audit with one of four major global auditing firms.
*This is not investment advice.