General · 3 May 2026
Tether gold reserves hit record 132 tonnes worth $19.8bn
Photo by DrawKit Illustrations on Unsplash
Stablecoin giant Tether has become the world's largest known non-bank gold holder after buying another six tonnes in the first quarter. The cryptocurrency company's bullion stash now totals 132 tonnes worth $19.8 billion as of 31 March, with USDT 10% backed by gold. Tether's gold buying has had a "material impact" on global prices according to JP Morgan, with last year's purchases beating every central bank except Poland.
Reported by Bloomberg · How we write briefs