CoinDesk·3 min read·hard
Tether posts $1.5 billion operating profit in Q2 as reserve buffer falls by half
O
Olivier Acuna
✦AI Summary
Tether reported a $1.5 billion operating profit for Q2, though its excess reserve buffer decreased significantly to $4.11 billion. The company also adjusted its holdings in gold and bitcoin amid market price fluctuations.
The issuer of USDT, the world’s largest stablecoin, reported holding $187.75 billion in assets against $183.64 billion in liabilities as of June 30, leaving it with $4.11 billion in excess reserves, according to the BDO attestation released Friday. Those excess reserves are down from just over $8.23 billion three months earlier.
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