https://finance.yahoo.com/news/tether-quietly-becomes-one-biggest-082304278.html

BBG: "Tether. It is now the world’s largest known hoard of bullion outside of banks and nation states, and has turned the crypto giant into a major player in the industry."

Crypto giant Tether Holdings has been shaking up the rising gold market with massive metal hoarding over the past year. The stablecoin issuer now holds around 140 tons of gold, according to CEO Paolo Ardoino.

The crypto firm bought more than 70 tons of gold over the course of last year for its reserves as well its gold-backed stablecoin XAUT, a Wednesday Bloomberg report read.

The yellow metal hoarding is more than that was reported by the three largest exchange-traded funds, it added.

With 140 tons of gold reserves, the , the largest known treasury outside of those held by central banks, ETFs and private banks.