Market News: Tether holds $8 billion worth of gold in secret Swiss vault

Odaily News Tether Holdings SA has its own vault in Switzerland, storing $8 billion worth of gold, and is looking to expand its gold reserves. The El Salvador-based cryptocurrency company said it currently holds nearly 80 tons of gold, most of which is held directly by Tether, making it one of the world's largest gold holders outside of banks and countries. Tether CEO Paolo Ardoino said: "We have our own vault. I believe it is the safest vault in the world." The facility is located in Switzerland, but the company declined to disclose its specific location and establishment time for security reasons. (Zhitong Finance)