CandleFocus Tether CEO Breaks Down $9.45B in BTC and Gold Reserves, but It’s Only Part of the Picture
2024-10-27
Author: Content Editor
During the Plan ₿ Forum in Lugano, Tether CEO Paolo Ardoino disclosed that Tether holds 82,454 BTC and 48.3 tons of gold. Tether's market cap recently surpassed $120 billion, making it significantly larger than its closest competitor, USDC. Some confusion arose regarding the mismatch between Tether's BTC and gold holdings and its market backing, but Ardoino clarified that Tether also holds US government bonds. Tether has been in the spotlight due to a report claiming an ongoing US government investigation, which Tether and Ardoino strongly denied, labeling the report as "wildly irresponsible" and filled with "reckless allegations."
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