19 hours ago
Tether CEO Paolo Ardoino has dismissed suggestions that the stablecoin institution has been offloading its bitcoin holdings successful bid to bargain gold.
Ardoino said Tether, issuer of the world's largest stablecoin USDT, "didn't merchantability immoderate bitcoin," in a station connected X connected Sunday.
The Tether CEO was responding to suggestions from YouTuber Clive Thompson that the secoind 4th attestation information of the company's reserves showed a driblet from 92,650 BTC successful the archetypal 4th to 83,274.
Samson Mow, CEO of Bitcoin exertion institution JAN3, responded to Thompson's post, pointing retired that Tether had sent astir 20,000 BTC to bitcoin treasury institution Twenty One Capital (XXI), of which Tether is simply a bulk shareholder.
"Correct," Ardoino said successful effect to Mow's post. "As Samson says below, [Tether] contributed portion of its stash into XXI."
"While the satellite continues to get darker, Tether volition proceed to put portion of its profits into harmless assets similar bitcoin, golden and land," Ardoino added.
Tether already holds $8.7 cardinal worthy of golden bars and it has been reported that it plans to invest successful mining the precious metal.
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