ChainCatcher reports that Tether’s net operating profit for the second quarter was $1.5 billion, primarily generated from interest on its U.S. Treasury holdings and repurchase agreements. As of June 30, Tether’s reserve buffer stood at $41.1 billion, with assets exceeding liabilities by the same amount. The circulating supply of USDT increased by $446 million to $184.6 billion, accounting for over 60% of the global stablecoin market. According to DeFiLlama data, the global stablecoin market size is approximately $307 billion, and Tether remains one of the largest holders of U.S. Treasury securities. Asset manager BlackRock has launched two tokenized money market products aimed at stablecoin issuers to help meet reserve requirements under the U.S. GENIUS Act. One fund tokenizes its existing Treasury liquidity strategy shares on Ethereum, while the other is an institutional-grade money market instrument designed for multi-chain support and automatic reinvestment of yields.
Tether Q2 Net Operating Profit Reaches $1.5B, USDT Circulating Supply Hits $184.6B
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Summary
Tether reported a Q2 net operating profit of $1.5 billion, driven by interest from U.S. Treasury holdings and repurchase agreements. As of June 30, its reserve buffer reached $4.11 billion, with assets exceeding liabilities by the same amount. The USDT circulating supply increased by $4.46 billion to $184.6 billion, capturing over 60% of the global stablecoin market, which totals $307 billion according to on-chain data from DeFiLlama. BlackRock also launched two tokenized money market products to help stablecoin issuers meet reserve requirements under the U.S. GENIUS Act, reflecting ongoing shifts in global crypto policy.
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