Tether swung from $4.9 billion in net profit for Q2 2025 to $1.5 in net operating profit during the second quarter of this year.

Stablecoin market value has declined by about $10 billion from its May peak, marking the sharpest monthly contraction since 2022.

The latest Tether attestation offers a snapshot of the assets backing the world's largest stablecoin, including U.S. Treasuries and gold.