Tether Acquires 31.9% Stake in Elemental Altus: Dive into Gold Royalties

Tether has made a significant move in the precious metals market, acquiring a substantial stake in Elemental Altus (ELE), a publicly traded gold royalties company. This investment marks a pivotal step for the stablecoin issuer as it seeks to diversify its portfolio and bolster the backing of its USDT stablecoin with tangible assets. Tether purchased around $89.2 million worth of shares in ELE, securing 31.9% of the company’s common stock. The move was facilitated offshore to ensure the transaction’s execution smoothly.