Overview

• Tether has held talks to invest across the gold supply chain — including mining, refining, trading, and royalty firms — according to recent Financial Times reporting.
• Bloomberg-reported plans indicate Tether aims to add about $100 million to its existing stake in Elemental Altus Royalties after taking a sizeable position earlier this year.
• The company disclosed $8.7 billion of gold bars stored in a Zurich vault in its Q2 2025 attestation, complementing its Tether Gold (XAUt) token backed by several tons of bullion.
• Discussions remain exploratory with no major mining acquisitions announced, and talks with Terranova Resources did not produce a deal.
• Tether’s multibillion-dollar profits from USDT reserves have underpinned the push as gold prices set fresh highs, drawing both interest and skepticism from traditional mining executives.