It's not news that Tether likes gold. The world’s largest stablecoin issuer has spent more than $300mn this year buying stakes in precious metals producers, CEO Paolo Ardoino having talked about “natural bitcoin” as a way to diversify reserves. Tether also issues the XAUt token, launched in 2020, which is advertised as being backed by bullion held in a Swiss vault.
[...] So what’s the plan? Jefferies’ team thinks Tether is betting on tokenised physical gold finally catching on.
https://www.ft.com/content/37f80249-2ca0-4369-9898-bde2689d443a
“natural bitcoin” is hilarious to me. I almost spit out my water while reading this during lunch
The immutable ledger of physics.
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