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Tether in Talks for Gold Mining Investment, Holds $8.7 Billion Worth of Gold Reserves
Summary: According to reports from the Financial Times, Tether is currently in talks for investing in the gold mining industry. The company plans to invest in various aspects of the gold supply chain, including mining, refining, trading, and licensing companies. Currently, Tether holds $8.7 billion worth of gold reserves in a Zurich vault as collateral for ...
According to reports from the Financial Times, Tether is currently in talks for investing in the gold mining industry. The company plans to invest in various aspects of the gold supply chain, including mining, refining, trading, and licensing companies. Currently, Tether holds $8.7 billion worth of gold reserves in a Zurich vault as collateral for its stablecoin. In June this year, Tether Investments spent $105 million to acquire a minority stake in Toronto-listed gold licensing company Elemental Altus. Tether CEO Paolo Ardoino previously stated that gold should be a safer asset than any sovereign currency and can complement Bitcoin.
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Link: Tether in Talks for Gold Mining Investment, Holds $8.7 Billion Worth of Gold Reserves [Copy]
