Tether becomes largest known gold holder outside banks and governments

Tether has become the largest known gold holder outside banks and governments, with 146 tons of the metal valued at $18.8 billion. The USDT issuer increased its holdings by 14 tons in the last quarter. The scale of the reserve highlights how major stablecoin issuers can diversify backing assets beyond cash and short-dated government securities, using gold as an additional store of value within their balance sheet.