Overview
- BDO’s June 30 attestation, released Friday July 31, 2026, shows Tether earned about $1.5 billion in net operating profit for Q2 and held $187.75 billion in assets against $183.64 billion in liabilities, leaving a $4.11 billion reserve surplus.
- USDT circulation rose to roughly $184.6 billion at quarter end, keeping Tether’s share of the global stablecoin market above 60% and reflecting about $446 million of net issuance since March.
- During Q2 Tether cut secured lending by about $2.38–$2.4 billion while increasing its gold holdings by 14 metric tons and adding roughly 1,796 bitcoin to reach 98,933 BTC.
- The firm reported onboarding more than 30 million users in the quarter and disclosed product and regional initiatives such as launching USAT on Celo and signing an MoU with the Nairobi Securities Exchange for exploratory tokenization work.
- BDO’s attestation validated the figures and Tether said it is continuing work toward a Big Four audit, a step that market participants see as central to broader trust because much of Tether’s profit and liquidity depends on short-term U.S. Treasury and repo exposure.