Tether Posts $1.5B Q2 Profit as USDT Supply Climbs to $184.6B
AI Market Summary
Tether reported Q2 net profit of $1.5B, driven largely by interest income on US Treasury and repo holdings, while USDT supply rose to $184.6B and retains over 60% stablecoin market share. A larger reserve buffer supports confidence in stablecoin liquidity. BlackRock's tokenized money market products aimed at stablecoin issuers signal accelerating institutional infrastructure for compliant onchain cash management.
Impact level
● Medium
AI InsightAI Insight
▲ Bullish
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Tether reported net profit of $1.5 billion for the second quarter, driven mainly by interest income from its U.S. Treasury holdings and repurchase agreements. As of June 30, the company's reserve buffer stood at $4.11 billion, matching the amount by which assets exceeded liabilities.
USDT circulation rose by $446 million to $184.6 billion, giving the token more than 60% of the global stablecoin market. DeFiLlama data put the overall stablecoin market at roughly $307 billion, with Tether remaining among the largest holders of U.S. Treasury securities.
Separately, asset manager BlackRock launched two tokenized money market products aimed at stablecoin issuers to help meet reserve requirements under the U.S. GENIUS Act. One fund tokenizes shares of an existing Treasury liquidity strategy on Ethereum, while the other is an institutional-grade money market vehicle designed for multichain support and automatic yield reinvestment.
