Tether’s Gold Holdings Rival Central Banks: Jefferies Report

A new report by Jefferies reveals that Tether, the stablecoin issuer, holds 116 tons of physical gold, making it one of the largest private-sector holders outside of central banks. This reserve size is comparable to the holdings of countries like South Korea, Hungary, and Greece. In the last quarter, Tether’s purchases of gold accounted for nearly 2% of global demand and approximately 12% of central bank purchases, potentially impacting short-term market supply and investor sentiment.