Tether Becomes Major Gold Buyer, Holding $12 Billion in Reserves

Stablecoin issuer Tether has emerged as a significant player in the gold market. Recent reserve reports reveal that as of September, Tether holds over $12 billion worth of physical gold. This impressive figure highlights Tether’s ongoing commitment to expanding its gold reserves, with weekly additions averaging over one ton for the past year. It is important to note that this number excludes the gold backing Tether’s gold-backed stablecoin, XAUT, and does not reflect private investments made using Tether’s financial resources generated from profitable ventures.