Tether Reports $1.5 Billion Profit in Q2 as USDT Supply and Gold Holdings Increase

Tether has released its latest attestation report, showing a profit of $1.5 billion for the second quarter. The report provides a detailed snapshot of the assets backing USDT, including holdings in U.S. Treasuries, repurchase agreements, and over 146 metric tons of gold. The increase in gold holdings and USDT supply indicates ongoing growth and confidence in Tether's reserve management. These assets are intended to support the stability and liquidity of USDT in the crypto market, which remains the dominant stablecoin by market capitalization. The report underscores Tether's continued focus on transparency and reserve backing amid evolving regulatory scrutiny and market dynamics.