Tether earns $1.5B in Q2 as reserve surplus hits $4.11 billion

Stablecoin issuer Tether reported $1.5 billion in profit for the second quarter, driven largely by income from US Treasury holdings. The company's reserve surplus grew to $4.11 billion despite a weaker stablecoin market and broader pressure across the crypto sector. USDT supply continued to expand even amid the challenging market conditions.