Tether In Talks To Invest Billion-Dollar Profits In Gold Sector: FT
Tether, the issuer of the $175 billion USDT stablecoin, is exploring investments across the gold supply chain to put part of its multibillion-dollar profits into the sector. That’s according to a Financial Times (FT) report, which cited sources familiar with the matter as saying the stablecoin giant has held meetings with mining and investment groups in order to invest across the entire gold supply chain. Tether is reportedly looking to acquire stakes in companies ranging from mining and refining to trading and royalty firms. Gold Mining Sector Surprised By Tether’s Interest Tether’s USDT stablecoin is the largest USD-pegged crypto in the market with a capitalization of more than $174.73 billion, according to CoinMarketCap data . To back its token, Tether holds US Treasuries, gold, and other assets that have relatively stable value and are highly liquid. The company is also currently the biggest holder of US Treasuries, and makes money off the interes...