Tether Reports $850 Million Q2 Profit, $72 Billion Exposure to US Treasuries

Tether Holdings Limited, the issuer of the USDT stablecoin, reported a Q2 profit of 850 million, increasing its total excess reserves to 3.3 billion. The company's operational profits have been steadily increasing, with a 30% increase quarter over quarter. Tether's reserves remain highly liquid, with 85% of its investments held in cash and cash equivalents.