Tether reported a $1.5 billion profit for the second quarter, fueled by its growing holdings in US Treasury securities. Despite a challenging environment for stablecoins and ongoing crypto market pressures, the company’s reserve surplus expanded to $4.11 billion.
The total supply of USDT continued to climb, signaling sustained demand for the stablecoin amid market uncertainty. Tether’s strategy of increasing Treasury and gold assets contributed significantly to its solid earnings. This approach helped the firm weather a period marked by weaker stablecoin performance overall.
