Tether's gold holdings rank in world's top 30

Tether, the issuer of the world's largest stablecoin USDT, held 148 tons of gold worth approximately $23 billion as of the end of January, placing it among the top 30 gold-holding institutions globally, CoinDesk reported. According to an analysis by Wall Street investment bank Jefferies, Tether purchased an additional 26 tons in the fourth quarter of last year and six tons this January. This volume is greater than that of most central banks over the same period, excluding Poland and Brazil. Tether's current gold reserves now exceed those of major countries such as Australia, the United Arab Emirates (UAE), Qatar, South Korea, and Greece, and are considered the largest among non-state institutions. Tether CEO Paolo Ardoino has previously stated a policy of allocating 10-15% of the company's investment portfolio to physical gold.