Tether's Gold Reserves Surpass $23 Billion, Outpacing Major Nations: Jefferies Report

According to a report from investment bank Jefferies, Tether's holdings of physical gold have exceeded a staggering $23 billion. The stablecoin issuer's aggressive accumulation of the precious metal is now occurring at a pace that surpasses the gold purchases of many nation-states. This massive reserve backs Tether's XAUT token, a digital asset pegged to the price of gold. Analysts highlight this trend as a significant shift, where a private entity in the cryptocurrency sector is amassing gold reserves comparable to those of central banks. The move underscores Tether's strategy to strengthen the collateral behind its stablecoins and signals growing institutional confidence in combining digital assets with traditional safe-haven commodities like gold.