TechFlow news, November 11 — According to Bloomberg, stablecoin issuer Tether has become one of the largest buyers of gold in the market. Gold is now part of USDT’s reserve assets. The company's latest reserve report shows that as of September, the value of gold held exceeded $12 billion. Over the most recent 12-month period ending in September, Tether added more than one ton of gold on average each week. This figure does not include gold reserves backing its gold-backed token (XAUT), nor does it account for private gold investments funded by Tether’s multi-billion dollar profits.
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