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01/05/26 14:44 UTC-04

Tether slowed gold purchases to 6 tons in the first quarter

Tether, the issuer of the world’s largest stablecoin, purchased about 6 metric tons of gold for its reserves in the first quarter, down from 27 tons in the October–December period, according to a quarterly report published on Friday.

The cryptocurrency company’s reserves backing Tether USDT contained gold worth $19.8 billion as of March 31, equivalent to approximately 132 metric tons at market prices at that time, compared with 126 tons at the end of December.

Tether has $189.5 billion worth of USDT tokens in circulation and $3.3 billion worth of Tether XAUT gold tokens. Each dollar-denominated token represents one U.S. dollar held in reserve, with the company maintaining assets of equivalent value when users provide dollars in exchange for USDT.

The reserves backing Tether USDT consist mainly of U.S. Treasury bills worth $117 billion, with gold accounting for 10% as of March 31. Bitcoin accounted for $7 billion of reserves.

For the Tether XAUT gold token, which is fully backed by gold, separate data showed that Tether holds 22 tons of gold, which is 6 tons more than on December 31.

In total, Tether holds 154 tons of gold across its two products. If the company were a central bank, it would rank among the top 20 countries by gold reserves, behind Brazil, which holds 172 tons according to data from the World Gold Council.

See also: "A new trend is being discussed in Japan that could lead to billions of dollars flowing into cryptocurrencies!"

#Gold #Tether #Reserve

Editor: Alyona Nabok
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