#tether

#tether

Earlier this year, CEO Paolo Ardoino revealed that Tether now holds over 100,000 BTC - worth more than $11 billion - alongside more than 50 tons of gold as part of its reserves. Those holdings make Tether one of the largest corporate owners of Bitcoin globally, a fact that further ties the fate of its business to the world's leading digital asset.

Don't look now but an overseas crypto colossus has just strode onto America's shores. I'm talking, of course, about Tether. For over a decade, the wildcat stablecoin firm operated as a global nomad before announcing in January it would set up a physical headquarters in El Salvador. Then, on Friday, founder Paolo Ardoino turned up in New York City to announce Tether would be launching a new U.S.-compliant stablecoin called USAT.

Tether ( Tether, the issuer of the world's largest stablecoin, USDTCRYPTO:USDT), has deepened its push into precious metals with a $100 million investment in Canadian gold royalty company Elemental Altus Royalties. This follows Tether's earlier acquisition of a 37.8% stake in Elemental for $105 million in June, bringing its total ownership to a controlling position.

Gugnin allegedly facilitated over $530 million in transactions for Russian clients linked to sanctioned banks, employing Tether to circumvent US sanctions and export controls.