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Tether Steps Up Gold Bet With Industry Talks, Elemental Altus Stake

Fresh reporting shows the stablecoin giant is scouting the gold supply chain to diversify beyond crypto.

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Tether held talks to invest in gold mining: ft
Tether in talks to invest in gold miners as its gold reserves hit $8.7 billion
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Overview

  • Tether is exploring deals across mining, refining, trading, and royalty companies, according to the Financial Times reporting cited by crypto outlets.
  • The company acquired a stake in Toronto-listed Elemental Altus Royalties in June and secured rights to lift its ownership further.
  • Tether reports holding about $8.7 billion in physical gold bars stored in a Zurich vault as collateral for its XAUt token.
  • Profitability is fueling the push, with the firm disclosing $4.9 billion in net income for the second quarter as USDT’s market cap sits near $168 billion.
  • Talks with Terranova Resources did not produce a deal, and industry voices range from welcoming new capital to questioning the coherence of Tether’s strategy.