Overview
- Coinspeaker, citing Kitco’s anonymous sources, reports that HSBC metals veterans Vincent Domien and Mathew O’Neill are expected to join Tether’s metals unit in the coming months.
- Crypto.news said Tether announced the hires to ramp up its physical bullion holdings, identifying Domien as HSBC’s global head of metals trading and O’Neill as head of precious metals for EMEA.
- Reporting says the company aims to professionalize metals trading and reserve management and may explore gold‑backed instruments, with product details not yet confirmed.
- USDT’s market value was above $183 billion on Nov. 11, while CEO Paolo Ardoino confirmed $17 billion in Q3 supply growth and $6.5 billion in excess reserves.
- Coverage notes gold prices have rebounded above $4,100 after October highs near $4,381, and Bloomberg data indicates Tether added roughly one metric ton of gold per week in September as haven demand strengthened during geopolitical tensions and the US government shutdown.