Major gold buyer invests in crypto bank

Core Insights - Tether is expanding its presence in the U.S. with a significant investment in Anchorage Digital, marking a strategic shift from its historical focus on offshore and emerging markets [1][2] Group 1: Investment Details - Tether announced a $100 million investment in Anchorage Digital, a federally chartered crypto bank in the U.S. [2] - The partnership aims to enhance U.S. stablecoin infrastructure, with Anchorage providing custody, staking, settlement, and stablecoin services for institutional clients [2] - The investment values Anchorage Digital at $4.2 billion, as stated by the bank [3] Group 2: Strategic Goals - Tether's CEO, Paolo Ardoino, emphasized the company's mission to challenge the status quo and build global financial infrastructure, highlighting a shared belief in secure and transparent financial systems [3] - The partnership with Anchorage is expected to bring both capital and credibility to the bank [3][4] Group 3: Financial Position - Tether has accumulated between 80 to 116 metric tons of gold, positioning itself as the world's largest private-sector gold holder through its reserves and gold-backed token XAUT [5] - The company holds $122 billion in direct U.S. Treasuries and over $141 billion in total Treasury exposure, according to its latest BDO attestation [6]