Tether Emerges as Major Gold Buyer with $12 Billion Holdings

According to Odaily, stablecoin issuer Tether has become one of the largest buyers of gold in the market. The company's latest reserve report reveals that as of September, Tether holds over $12 billion worth of gold. Over the past year, Tether has been increasing its gold reserves by more than one ton per week on average. This figure does not include the gold reserves backing its gold-backed stablecoin, XAUT, nor does it account for private gold investments made using Tether's substantial profits.