ChainCatcher reports that, according to Reuters, Tether CEO Paolo Ardoino stated that Tether plans to allocate 10% to 15% of its portfolio to physical gold.
Earlier reports indicate that stablecoin issuer Tether Holdings SA has become one of the largest participants in the global gold market, holding approximately 140 tons of gold valued at about $23 billion. It is believed to be the largest known holder of physical gold outside of banks and governments. Tether CEO Paolo Ardoino revealed that the company is continuously purchasing gold at a rate of 1 to 2 tons per week, with the goal of establishing a long-term, stable physical gold reserve in a former Swiss nuclear bunker.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ZachXBT: Iranian Platform Funds Suddenly Frozen, Circle and Tether Take Action, $2.49 Million On-Chain Transfer Halted
On-chain analyst ZachXBT revealed that a wallet address belonging to Iranian platform Wallex was jointly frozen by Circle and Tether, raising concerns about stablecoin compliance and fund security. Prior to the freeze, Wallex was allegedly undergoing asset restructuring, with approximately 2.49 million dollars in funds currently stalled. This incident highlights the influence of the aforementioned stablecoin issuers in fund management and the regulatory uncertainty surrounding cross-chain transfers, as the market closely monitors subsequent developments and impacts.
GateNews59m ago
