Tether Q2 Attestation: $1.3B Profit, $5.2B Excess Reserves
BDO attestation records Tether's $1.3 billion Q2 operating profit and $5.2 billion excess reserves above full USDT backing.
Tether reported $1.3 billion in Q2 net operating profit through its latest BDO attestation. Excess reserves stood at $5.2 billion above the full backing of outstanding USDT.
The profit stems from interest income on short-term U.S. Treasury holdings that back the stablecoin. The excess reserve figure provides a cushion above liabilities at the reporting date.
Limits of the disclosure
An attestation is a point-in-time snapshot and does not disclose exact total reserves or circulating supply on the attestation date. Users and counterparties continue to monitor reserve composition, liquidity access, and redemption mechanics.