Tether News: Q2 Excess Reserves Halve as Financial Result Swings to Loss

The post Tether News: Q2 Excess Reserves Halve as Financial Result Swings to Loss appeared first on Coinpedia Fintech News

Tether reported that its excess reserves fell from a record $8.23 billion at the end of the first quarter to $4.11 billion as of June 30. While the company posted $1.5 billion in Q2 net operating profit, its first-half comprehensive financial result was approximately negative $3.17 billion. Combined with its previously reported Q1 net profit …