Tether Amasses $24B Gold Hoard in Swiss Nuclear Bunker While Expanding into Trading
Tether has transformed a Cold War-era nuclear bunker in the Swiss Alps into the world's largest private gold vault, stockpiling 140 tons of bullion worth $24 billion. The ultra-secure facility receives weekly shipments of 1-2 tons as the stablecoin issuer outpaces national central banks in accumulation. "It's a James Bond kind of place," said Tether's Paolo Ardoino, noting last year's 70-ton purchase exceeded most countries' reserves.
The company is now leveraging its physical holdings to establish a gold trading operation, poaching senior HSBC metals traders to build what Ardoino calls "the best trading floor for gold in the world." Tether plans to capitalize on arbitrage opportunities between futures and physical markets while maintaining its long position in bullion.
