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Tether's gold reserves surged to 116 tons, on par with small Central Banks.

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[Tether's gold reserves surge to 116 tons, rivaling small Central Banks] According to CoinDesk, investment bank Jefferies' latest report indicates that stablecoin giant Tether has quietly become one of the most influential new buyers in the gold market. The report estimates that Tether currently holds at least 116 tons of gold, with 12 tons backing its XAUt token (valued at approximately $1.57 billion) and about 104 tons backing USDT (valued at approximately $13.67 billion), making it the largest non-sovereign gold holder in the world, comparable in scale to small Central Banks. In just the third quarter, it increased its holdings by about 26 tons, equivalent to 2% of global demand. Analysts point out that with the growth of USDT and Tether CEO Paolo Ardoino expecting profits to reach 15 billion USD by 2025, the company may continue to increase its gold reserves. This year, gold prices have risen over 50%, and the current trading price is about 4080 USD/ounce.

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