Tether is buying up to $1 billion of physical gold each month to back its gold-backed stablecoin, $XAU . The gold is stored in a highly secure former nuclear bunker in Switzerland, described as a "James Bond" style facility. Tether currently holds about 140 tons of gold worth around $23 billion, making it a major player in the gold market and positioning itself as a potential "gold central bank" in the future.
XAUUSDT
Perp
4,888.61
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XAGUSDT
Perp
85.32
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