Stablecoin Issuer Reserve Buffers Thin
Even as stablecoin issuers post record profits, their excess reserve cushions above par shrink, making the adequacy and composition of backing a recurring scrutiny point as issuance and non-Treasury holdings (like gold) grow.
forming · confidence 35 · Emerging (watchlist) · tracking since August 1, 2026 · updated August 1, 2026
Why the conviction moved
- Aug 1Strengthened
Tether reported $1.5 billion in quarterly profit even as its excess reserves fell to $4.11 billion from about $8.23 billion three months earlier, with Treasury income and gold holdings growing, per the edition. A halving buffer alongside record profit raises a distinct question about how much cushion sits above par backing.
Source trail
Supporting · August 1, 2026
Tether Reports $1.5 Billion Quarterly Profit as Its Reserve Cushion Halves
Tether reported $1.5 billion in quarterly profit even as its excess reserves fell to $4.11 billion from about $8.23 billion three months earlier, with Treasury income and gold holdings growing, per the edition. A halving buffer alongside record profit raises a distinct question about how much cushion sits above par backing.
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