Tether Holds 116 Tons of Gold, Becoming the World's Largest Private Holder

According to a report by the Financial Times on November 25, Tether, the leading cryptocurrency stablecoin issuer, has become the world's largest holder of gold outside of central banks. Analysis by investment bank Jefferies indicates that the company's holdings have reached approximately 116 tons.

Tether's gold holdings are now on par with the reserves of smaller central banks in countries such as South Korea, Hungary, and Greece. Jefferies estimates that the gold purchased by Tether in the third quarter represents about 2% of the total global gold demand and approximately 12% of the total gold purchased by central banks during the same period.

The company surpassed central bank gold purchases in the third quarter of 2025 by acquiring more than 26 tons...