Tether said its Q2 2026 attestation, published July 31 and prepared by BDO Advisory Services, showed total assets of $187.75 billion and total liabilities of $183.64 billion as of June 30, leaving about $4.11 billion in excess reserves and indicating USDT remained overcollateralized. The buffer fell from about $8.23 billion in Q1 as valuation declines in bitcoin and gold contributed to a $3.2 billion first-half loss, while Tether separately reported about $1.5 billion in second-quarter net operating profit. During the quarter, the company added 14 metric tons of gold, lifting holdings to about 146.2 metric tons valued at $18.84 billion, increased bitcoin holdings to 98,933 BTC, issued roughly $446 million of additional USDT to about 184.6 billion in circulation, said its user base surpassed 650 million, and reduced secured loans outstanding by $2.4 billion. Tether is also pursuing gold leasing through Gold.com, a U.S. precious-metals dealer in which it holds an equity stake.