HSBC HOLDINGS(US:HSBC) 智通财经网·2025-11-11 14:47Group 1 - Tether Holdings SA is accelerating its entry into the physical gold market by hiring two senior precious metals trading executives from HSBC [1] - The company aims to leverage its substantial capital to build a large gold reserve and challenge traditional financial institutions in the gold market [1] - Tether's recent expansion in the precious metals sector has made it one of the largest gold buyers globally, holding over $12 billion in gold [2] Group 2 - Tether has been increasing its gold holdings by over one ton per week on average over the past year, positioning itself just behind central banks and some national reserve institutions [2] - The company issues a stablecoin backed by physical gold, Tether Gold, which currently has a circulation of approximately $2 billion [2] - Tether's profit for 2024 is projected to be around $13 billion, comparable to major Wall Street investment banks, with an expected profit of $15 billion for the current year [2]