Tether posted approximately $1.5 billion in net operating profit during the second quarter of 2026, supported mainly by returns from its US Treasury portfolio and repo operations, according to the company’s BDO attestation released on Friday.

In Q2, USDT supply rose to approximately $184.6 billion by the end of June, extending its share of the global stablecoin market to over 60%.

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The company reported total assets of $187.7 billion and total liabilities of $183.6 billion, resulting in excess reserves of approximately $4.1 billion. Tether said its reserve portfolio remains concentrated in high-quality liquid assets, with US government-backed securities continuing to form the core of its holdings.

During the quarter, Tether cut secured lending by about $2.4 billion and expanded its physical gold reserves by 14 tons to more than 146 tons. The company said its reserve portfolio withstood sharp market swings in both gold and Bitcoin, ending the quarter with approximately $5.8 billion worth of Bitcoin.

In addition, Tether disclosed adding more than 30 million users globally during the quarter while continuing work on its Big Four audit and expanding its technology and financial infrastructure ecosystem.

This is a developing story.