Tether Invests in Gold Mining to Diversify Holdings

Tether, led by CEO Paolo Ardoino, has deepened its investment portfolio by acquiring stakes in Elemental Altus, a Toronto-listed gold royalty company. This strategic move aims to diversify Tether’s holdings and enhance its stability amid increased gold price volatility impacting the broader cryptocurrency market. 💰 Specifically, Tether has invested approximately $880 million into XAUâ‚®-backed gold reserves, showcasing their commitment to hedging stablecoin reserves.