Tether published its Q2 2026 attestation in late July.
The release leads with 146 tons of gold, more than most central banks hold, and $1.5B in net operating profit. The number that matters sits further down: an excess reserve buffer of $4.11B, down from $6.8B at the last report before S&P downgraded Tether to “Weak” in November.
The Signal: Tether now …
