[Tether Becomes One of the Largest Gold Buyers in the Market, Holding Over $12 Billion in Gold as of September]
Stablecoin issuer Tether has become one of the largest gold buyers in the market. Its latest reserve report shows that as of September, Tether held over $12 billion worth of gold, with an average weekly increase of over 1 ton of gold over the past year. This statistic does not include Tether's gold-backed stablecoin (XAUT) reserves or its private gold investments made through billions of dollars in profits.