Tether Posts $1.5 Billion in Q2 Operating Profit, Gold Holdings Top 146 Tons
JH Kim
Summary
- Tether said it posted about $1.5 billion in second-quarter operating profit, supported by interest income from U.S. Treasuries and repurchase agreements (RP).
- As of June 30, Tether said it held $187.75 billion in total assets and $183.64 billion in total liabilities, with a reserve buffer of about $4.11 billion.
- Tether said it cut secured loans by $2.38 billion and bought an additional 14 tons of gold, bringing its total holdings to more than 146 tons, while USDT in circulation reached about $184.6 billion, or roughly 60% of the stablecoin market.
Forecast Trend Report by Period
Tether, the issuer of the dollar-pegged stablecoin USDT, posted about $1.5 billion in operating profit in the second quarter, driven by interest income from U.S. Treasuries and repurchase agreements, the company said on July 31.
As of June 30, Tether had total assets of $187.75 billion and total liabilities of $183.64 billion, leaving a reserve buffer of about $4.11 billion. It also cut secured loans by $2.38 billion and bought an additional 14 tons of physical gold, bringing its total gold holdings to more than 146 tons.
USDT in circulation stood at about $184.6 billion, accounting for roughly 60% of the stablecoin market, according to Tether.
JH Kim
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