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Tether Quietly Becomes One of the Biggest Global Gold Market Players, Holds 140 Tons of Gold
Yahoo Finance· 2026-01-28 08:23
Core Insights - Tether Holdings has significantly increased its gold reserves, now holding approximately 140 tons, positioning itself as a major player in the gold market [1][3][6] - The company aims to compete with traditional banks in bullion trading, indicating a strategic shift towards becoming a key player in the gold sector [1][5] Group 1: Gold Accumulation - Tether purchased over 70 tons of gold in the past year for its reserves and its gold-backed stablecoin, XAUT, surpassing the holdings of the three largest exchange-traded funds [2] - The current value of Tether's gold reserves is estimated at $23 billion, making it the largest known treasury outside of central banks, ETFs, and private banks [3] - The company has been accumulating more than a ton of gold weekly and plans to continue this trend for the foreseeable future, assessing demand quarterly [3] Group 2: Storage and Security - Tether stores its gold in a former nuclear bunker in Switzerland, which is heavily secured, highlighting the company's commitment to the safety of its assets [4] Group 3: Market Position and Trading Intentions - Tether is looking to trade gold and compete with major financial institutions like JPMorgan Chase & Co. and HSBC, aiming for stable long-term access to gold [5] - Following the announcement of its gold holdings, Tether's gold-backed stablecoin, XAUT, experienced a price increase of 3.99% in 24 hours, with significant weekly and monthly gains [5]
X @AscendEX
AscendEX· 2026-01-28 08:22
📰 #AscendEX Daily Updates🔷Spot gold has broken above $5,200 for the first time🔷Bitcoin’s network hash rate has seen the largest drop in history🔷Ethereum's active wallet count hits a record high, with 5.16 million new wallets added in 2026#AscendEX #Crypto #CryptoNews https://t.co/NZkCby9gtz ...
X @CoinMarketCap
CoinMarketCap· 2026-01-28 06:23
LATEST: 🏦 Nomura-backed Laser Digital has applied for a US national trust bank charter with the OCC, joining a wave of crypto firms seeking federal banking oversight amid friendlier Washington policy. https://t.co/zmiGFs2PYJ ...
X @Balaji
Balaji· 2026-01-28 05:41
POSTSCRIPT(a) Please note: the intended purpose of the California wealth seizure referendum is to rob or exile everyone in tech. There is no point in complaining about this as being stupid.(b) Rather than stupid, it is intentionally evil. The reason is that Democrats fear that technologists might actually displace their control over California, and so they are striking first. The goal of the Democrats is to drive tech out of California, like they did the Republicans, so they can enjoy permanent one-party co ...
X @Balaji
Balaji· 2026-01-28 05:34
POSTSCRIPT(a) Please note: the intended purpose of the California wealth seizure referendum is to rob or exile everyone in tech. There is no point in complaining about this as being stupid.(b) Rather than stupid, it is intentionally evil. The reason is that Democrats fear that technologists might actually displace their control over California, and so they are striking first. The goal of the Democrats is to drive tech out of California, like they did the Republicans, so they can enjoy permanent one-party co ...