Tether Emerges as Major Gold Market Player with 140-Ton Reserve
Tether Holdings Ltd., the issuer of the world's largest stablecoin, has quietly amassed a gold reserve rivaling central banks and institutional investors. The crypto firm now holds approximately 140 metric tons of bullion—worth $23 billion at current prices—after acquiring more than 70 tons in the past year alone.
"We are soon becoming basically one of the biggest gold central banks in the world," CEO Paolo Ardoino told Bloomberg. The company's weekly accumulation exceeds one ton, with plans to continue aggressive purchases for at least several months. Tether's holdings now surpass those of the three largest gold-backed ETFs combined.
The bullion supports both corporate reserves and XAUT, Tether's gold-pegged stablecoin. This strategic MOVE positions the crypto giant as an unconventional force in precious metals markets, challenging traditional financial institutions in bullion trading operations.
