Tether reported $1.5 billion in net operating profit for the second quarter, with most of the earnings coming from interest generated by its U.S. Treasury holdings and repurchase agreements. As of June 30, the company said it had a $4.11 billion reserve buffer, meaning assets exceeded liabilities by the same amount.
The circulating supply of USDT rose by $446 million to $184.6 billion, giving it more than 60% of the global stablecoin market. DeFiLlama data put the total stablecoin market at about $307 billion. Tether also said it remains one of the major holders of U.S. Treasury securities.
The update came alongside news that asset manager BlackRock has launched two tokenized money market products aimed at stablecoin issuers. The products are designed to help issuers meet reserve requirements under the U.S. GENIUS Act. One fund tokenizes existing shares of a Treasury liquidity strategy on Ethereum, while the other is built as an institutional money market tool that supports multiple chains and automatically reinvests yield.
Tether said its net operating profit for the second quarter reached $1.5 billion, driven mainly by interest income from its U.S. Treasury holdings and repurchase agreements.
Reserve buffer stood at $4.11 billion
As of June 30, Tether's reserve buffer was $4.11 billion, with assets exceeding liabilities by the same amount.
USDT supply climbed to $184.6 billion
The circulating supply of USDT increased by $446 million to $184.6 billion, accounting for more than 60% of the global stablecoin market.
According to DeFiLlama, the global stablecoin market is worth about $307 billion. Tether said it remains one of the largest holders of U.S. Treasury securities.
BlackRock launches two tokenized money market products
BlackRock has introduced two tokenized money market products for stablecoin issuers to help them meet reserve requirements under the U.S. GENIUS Act.
One of the funds tokenizes shares of an existing Treasury liquidity strategy on Ethereum. The other is an institutional money market instrument built for multi-chain support and automatic yield reinvestment.
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