Tether buys over six tons of gold in first quarter, reserves nearing $20 billion
Corroborated by 2 sources from 2 publishers
TL;DR
Tether buys over six tons of gold in first quarter, reserves nearing $20 billion By Polina Devitt LONDON, May 1 (Reuters) - Tether, issuer of the world's largest stablecoin, slowed its purchases of gold for its reserves to back Tether USDT in the first quarter to about 6 metric tons from 27 tons in October-December, its quarterly report showed on Friday. Each Tether-issued dollar token is intended to represent one U.S. dollar held in reserve.
Sources
1
Investing.com News
https://www.investing.com/news/stock-market-news/tether-buys-over-six-tons-of-gold-in-first-quarter-reserves-nearing-20-billion-93CH-4653505
2
Yahoo Finance News
https://finance.yahoo.com/markets/crypto/articles/tether-slows-gold-purchases-usdt-162247975.html
3
Investing.com News
https://www.investing.com/news/commodities-news/tether-slows-gold-purchases-for-usdt-reserves-in-first-quarter-data-shows-4653928
4
Investing.com News
https://www.investing.com/news/cryptocurrency-news/tether-slows-gold-purchases-to-6-tons-in-first-quarter-93CH-4654280
5
Yahoo Finance News
https://finance.yahoo.com/markets/crypto/articles/tether-posts-1-billion-profit-200300513.html