Tether’s Massive $9.45B BTC and Gold Reserves Unveiled, But There’s More to the Story

Tether’s market cap recently surpassed $120 billion, outpacing its closest competitor, USDC, by a wide margin.

Speaking at the Plan ₿ Forum, Tether’s CEO Paolo Ardoino clarified the stablecoin’s asset reserves after revealing holdings of $5.58 billion in Bitcoin and $3.87 billion in gold. Addressing questions on X (formerly Twitter), Ardoino explained that Tether’s reserves also include around $100 billion in U.S. government bonds.

This clarification comes amid a Wall Street Journal report about a U.S. investigation into Tether, which the company has strongly denied, calling the claims “wildly irresponsible.

Clever Robot News Desk 28^th October 2024