Tether adds 14 tonnes of gold in Q2 2026, lifting reserves to 146 tonnes

Tether added 14 tonnes of physical gold in the second quarter of 2026, bringing total holdings to a record 146 tonnes worth about $18 billion, while also reporting $1.5 billion in net operating profit for the quarter. The USDT issuer said its reserve buffer stood at $4.11 billion on June 30, with USDT circulating supply at $184.6 billion after a $446 million increase, giving it more than 60% of the global stablecoin market by the company's cited figures and DeFiLlama data showing the sector at about $307 billion. The company continues to present gold as a hedge against currency debasement and a diversifier outside the banking system, while keeping the core reserves behind USDT concentrated in short-dated U.S. Treasuries, cash equivalents and reverse repos. Tether said the disclosed gold is separate from Tether Gold, or XAUT, its tokenized bullion product, and covers reserves held against USDT as well as assets on the company's own balance sheet. Tether's ability to accumulate bullion has been supported by earnings from its Treasury-heavy reserve portfolio during a period of elevated U.S. interest rates through 2025 and into 2026. While gold adds diversification, it does not generate yield and its price can fluctuate, meaning a sharp decline would reduce the value of Tether's excess reserves even if it would not directly change USDT's day-to-day use or redemption mechanics. Broader crypto markets showed little immediate reaction to the disclosure, with Bitcoin at $64,381, down 0.2% on the day as of August 7, 2026, and the Fear and Greed Index at 38 in "Fear" territory.