Tether Holds $3.4 Billion In Gold Reserves, Nears ATH Market Cap 1 Year Post Terra Collapse
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Tether (USDT), the world’s largest stablecoin by market capitalization, was one of the dollar-pegged cryptocurrencies to have been affected by the collapse of the Terra ecosystem. Now – a year later, the stablecoin has reclaimed its stable dollar peg and boasts one of the deepest reserves in the cryptocurrency industry. Prominent Crypto Figure Dubs Tether A ‘Precious Metals Powerhouse’ Gabor Gurbacs, on Friday, May 12, provided an insight into the significance of precious metals to Tether’s financial setup. Interestingly, Gurbacs, the founder of PointsVille, dubbed Tether’s USDT a “precious metals powerhouse”. According to Gurbacs’ tweet, Tether Holdings Limited, the issuer
The cryptocurrency markets are constantly evolving, but few could have predicted the meteoric rise of Tether (USDT) in 2023. This controversial stablecoin has experienced hockey stick-like growth in its position, cementing its position as the third-largest crypto asset behind Bitcoin and Ethereum. Tether’s market capitalization exploded from around $60 billion…
Tether, the company behind USDT, has become the world’s largest independent holder of gold. This is happening while financial markets are unstable and global tensions are rising. Investors are now actively looking for safe ways to protect their money. Tether’s growing gold reserves are also pushing a fresh conversation about…
Tether’s substantial Bitcoin holdings and compliance with emerging U.S. stablecoin regulations have drawn the attention of financial analysts. Recent disclosures indicate that the stablecoin issuer holds approximately 83,759 BTC, valued at over $8.02 billion. This amount represents 0.4% of Bitcoin’s total supply. Meanwhile, latest analysis by JPMorgan has noted that…