Tether's Gold Buying: A New Twist in Safe Haven Narrative

Tethers Gold Buying Surge: A New Player in the Safe Haven NarrativeTether, known for its stablecoin USDT, has emerged as a major gold buyer, surpassing official central banks in purchases for two quarters this year. With one hundred and four tonnes of gold backing USDT reserves, Tethers significant accumulation raises questions, especially with the new US law barring stablecoin issuers from using gold as a reserve asset. Despite this, Tether continues to increase its gold holdings, presenting an interesting dynamic between gold and the crypto world.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.