Tether Becomes the World's Largest Private Holder of Gold with 146 Tons

Tether has increased its physical gold holdings by 14 tons in the second quarter, bringing the total to 146 tons, making it the largest private holder of gold in the world, excluding central banks and governments. The current value of its gold holdings is approximately $18.8 billion, more than doubling compared to the first quarter of 2025. Gold accounts for about 10% of Tether's total reserve assets of $187.8 billion and is operated as a core reserve asset alongside U.S. Treasury bonds. In the second quarter of this year, Tether recorded a net operating profit of $1.5 billion, maintaining total assets of $187.8 billion, which is $4.11 billion more than its liabilities. The outstanding USD₮ amount is $184.6 billion, representing over 60% of the entire stablecoin market. Tether's pace of gold purchases is comparable to that of some central banks, and the demand for its tokenized gold product, Tether Gold (XAUT), is also increasing. Industry experts evaluate that Tether is expanding its influence beyond being a stablecoin issuer to becoming a global financial player.

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