Tether Expands into Gold Industry

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Tether is planning to expand its gold investments beyond holding $8.7 billion in gold bars. The company aims to invest in gold mining, refining, trading, and royalty businesses to strengthen its backing and diversify its assets. In June, Tether bought a $105 million stake in the Toronto-listed Elemental Altus royalty company and recently added $100 million more. CEO Paolo Ardoino said gold is safer than any currency and a natural complement to Bitcoin, signaling a bold future in gold-backed digital finance.