Tether International has published an audited reserves and financial performance report for the second quarter of 2026, confirmed by the independent auditing firm BDO. The issuer of the USDT stablecoin recorded a net operating profit of $1.5 billion. The company's total assets reached $187.75 billion, while liabilities totaled $183.64 billion, of which $183.62 billion accounted for issued tokens. Thus, assets exceed liabilities by $4.11 billion, forming a reliable reserve buffer. At the same time, the volume of USDT in circulation increased to $184.6 billion, which allowed the company to occupy more than 60 percent of the stablecoin market, despite the overall reduction in capitalization of this segment.

Tether's reserve structure is still based on highly liquid instruments, including U.S. government bonds and repo operations. In addition, the company's portfolio includes precious metals worth $18.84 billion, bitcoin worth $5.8 billion, public shares worth $3.76 billion and secured loans worth $13.45 billion. In the reporting period, the issuer purposefully reduced its secured loan portfolio by approximately $2.38 billion, or 15 percent, optimizing capital allocation. CEO Paolo Ardoino emphasized that such a reserve strategy has been successfully tested in the face of significant volatility in the gold and cryptocurrency markets, while maintaining full security for the USDT token.

During the second quarter, the company acquired 14 tons of physical gold, bringing the total reserves to 146 tons, which contributed to the growth of the capitalization of tokenized gold Tether Gold (XAUT) above the $3 billion mark. Against the background of these successes, Tether announced the curtailment of the Alloy by Tether platform and the termination of support for the aUSDT stablecoin, focusing on the development of key products. Currently, the organization is actively adapting its business processes to new regulatory requirements, having until July 18, 2028 to bring USDT into full compliance with the provisions of the recently signed GENIUS Act in the United States.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.