Tether’s reserve surplus grew to $4.11 billion in the second quarter as USDT supply rose despite a weaker stablecoin market and continued pressure across the crypto sector.
Stablecoin issuer Tether generated another multibillion-dollar quarter as income from its US Treasury portfolio continued to bolster earnings, even as the broader crypto market remained under pressure.
Tether’s latest quarterly attestation, released Friday, reported a net operating profit of $1.5 billion for the second quarter, driven primarily by interest earned on US Treasury holdings and repurchase agreements, or short-term loans backed by government securities.
The company also reported a reserve buffer of $4.11 billion as of June 30, meaning its assets exceeded liabilities by that amount.
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