The crypto giant Tether, which issues the largest stablecoin in the US dollar market, has released its financial report for Q2 2026. The report was prepared by the auditing firm BDO (one of the top five global auditing networks alongside the Big Four).
The company's net operational profit amounted to $1.5 billion, while the value of its assets exceeded liabilities by $4.11 billion. A year ago, in Q2 2025, Tether's net operational 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 Q1. Despite the overall contraction of the stablecoin market's capitalization, USDT's share in it has exceeded 60%. The majority of tokens are issued on the Tron and Ethereum blockchains.
Tether's reserves continue to be based on short-term US Treasury bonds, the income from which remains one of its main sources of profit. Tether is one of the largest holders of US government debt among all states.
The company also reported that it has increased its physical gold reserves by 14 tons, bringing the total to over 146 tons. This gold is partially used to support the XAUT token related to gold prices (which ranks 32nd with a market capitalization of $2.46 billion on CoinMarketCap) and partially as an investment. The gold is stored in the form of bars in a Swiss vault. Tether is considered the largest private owner of this metal.
According to Tether, as of June 30, the company's total assets amounted to $187.75 billion, while liabilities were $183.64 billion, of which $183.62 billion were in the form of issued tokens.
