Tether Made $1.5 Billion in Q2 and Its Reserve Cushion Still Halved

Tether earned roughly $1.5 billion in the second quarter, yet the cushion protecting Tether (USDT) holders shrank by half. Excess reserves closed June at $4.11 billion, down from a record $8.23 billion. The stablecoin issuer published its Q2 2026 attestation on Friday, prepared by accounting firm BDO. The report confirms USDT stays overcollateralized. It does