Bloomberg: Tether is already one of the largest gold buyers in the market, holding over $12 billion worth of gold as of September.

Odaily Planet Daily reports that stablecoin issuer Tether has become one of the largest gold buyers in the market. Currently, USDT's reserve assets include gold, and its latest reserve report shows that in September, the company held gold worth over $12 billion. In the past year ending in September, it has averaged an increase of over one ton of gold per week. This statistic reportedly does not include the gold reserves of its gold-backed stablecoin (XAUT), nor does it account for private gold investments made using Tether's billions of dollars in profits. (Bloomberg)