Core Insights - Tether is recruiting two top global gold trading executives from HSBC to expand its gold reserves and challenge traditional precious metal giants [1] - Tether has become one of the largest holders of gold globally, surpassing banks and sovereign nations, with over $12 billion in gold reserves as of September [1] Group 1 - Tether plans to hire Vincent Domien, the global head of metal trading at HSBC, and Mathew O'Neill, head of precious metals business, in the coming months [1] - The company has been actively expanding its precious metals business in recent years [1] - Tether's gold reserves have reached over $12 billion, according to its reserve report [1]