Tether Expands $24 Billion Gold Reserves in Ex-Nuclear Bunker

Tether, a prominent issuer of stablecoins, has emerged as one of the largest holders of gold globally, with its extensive reserves housed in a repurposed nuclear bunker in Switzerland. The company is committed to further increasing its gold stash, which currently stands at an impressive $24 billion.

According to statements from Tether's CEO, the firm’s strategy involves bolstering its investment in gold to provide even greater backing for its stablecoin operations. This move reflects Tether's ongoing efforts to enhance transparency and stability in the volatile cryptocurrency market.

The choice of a former nuclear bunker as a storage facility underscores Tether's commitment to security for its substantial gold assets. By leveraging this unique location, Tether aims to reassure its users and investors regarding the safety of their holdings.