Gold Reserves Approach 80 Tons, Tether Surpasses Indonesia's Holdings
Tether, the issuer of the USDT stablecoin, reported total physical gold reserves of nearly 80 tons. Meanwhile, Indonesia's gold reserves are below Tether's, at 78.57 tons, according to data from Trading Economics.
This places Tether among dozens of countries, implying that this crypto company is positioned between Australia, Kuwait, and the United Arab Emirates. In fact, Tether's revenue comes from transaction profits.
Furthermore, Tether's revenue last year reached US$13 billion. In the first quarter of this year, Tether has already made a profit of US$1 billion.
Thus, its earnings are directed towards investment instruments such as United States (US) bonds, gold, and also Bitcoin (BTC).
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